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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Poet who wrote (3793)	4/20/2001 8:49:45 AM
From: John Pitera	Read Replies (1) \| Respond to of 33421

The market, especially tech rallies pretty strong after last May's bottom. But In the bigger picture, this huge ramp up shows that we still have speculative elements of the bull market around, and I think it means that we are not finished with the bear market. And we should be expecting that volatility should continue to diminish over time, so it we had a sine wave, it has huge amplitude swings up and down as the bull market peaks and then we morph into the bear and the amplitude for each swing should decrease over time until the we have more of a sideways pattern. Since last September, the easy money was made by being short. It's so difficult to change horses. I know what you mean :-) The Market Vane % on the Spoos is pretty low currently............ Futures Researc PETER G. GRENNAN (04/19/01) STOCK INDEX FUTURES MARKET COMMENT . With the help of the Fed, SP broke above its three-week base building. The base building began March 27 with SP when SP first closed over over its 2% level under its 21 day ma. This was three sessions after Mar 22 low. Throughout the base building there were frequent indications that the base building was constructive. Now what? With close over 1200, targets are 1280-1300. With April 10th close over 10000, Dow targets are 10800-11000. All these are very subject to change/revision as market's patterns are monitored through time. The 1233.50-1240.50 gap is now support. Globex tested this last night. Resistance 1255-60. Over 1260.50, 1264-65. Over 1265.50, 1268-1272. NYSE Financial Index has also been acting well. Its close over 600 has to be held through tomorrow's close. FairValue+5.72;Buy+8.20;Sell+3.30. . STOCK INDEXES TRADING RANGES (04/19/01) ****COMPUTER TRADING RANGES** DJM.(JUN) 10550 -10740 DJM SPMGLX SPM YXM NDM SPM.(JUN) 1233.00 -1270.00 HIGH 2 10981 1304.73 1301.40 650.83 2045.17 YXM.(JUN) 625.00 - 638.00 HIGH 1 10823 1275.47 1273.80 640.92 1942.33 MDM.(JUN) 489.00 - 509.00 PIVOT 10581 1240.73 1242.40 628.08 1847.17 RLM.(JUN) 463.00 - 479.00 LOW 1 10423 1211.47 1214.80 618.17 1744.33 KVM.(JUN) 1159.00 -1189.00 LOW 2 10181 1176.73 1183.40 605.33 1649.17 NDM.(JUN) 1744.00 -1942.00 OSAKA NKM.(JUN)13710-14090 MARKET VANE AS OF (04-17-01) 28 VS 25 . 21-DAY M.A. BASED ON YESTERDAY'S CLOSES******* STOCHASTICS SP(SPM) YXM..593.74 SPM..1160.98 DJM.. 9897.70 NDM..1613.90 . HOURLY DAILY WKLY OEX..589.24 SPX..1153.15 DOW.. 9845.00 NDX..1600.90 %K 75.08 84.49 38.05 10-DAY TRIN..( .849) SP 500 JUN (SPM) %D 77.30 79.95 27.17 10-DAY NAD...(+3365) FAIR VALUE+5.72 . SELL BUY BUY DJM FAIR VALUE+44.01 BUY PROGRAMS+8.20 . 04/18 04/09 04/12 NDM FAIR VALUE+12.88 SELL PROGRAMS+3.30 . NASDAQ 100 COMMENT 04/19/01 NASDAQ 100 GLOBEX SYMBOL for JUN (DNM)** . NASDAQ 100 GLOBEX HIGH 1881.50;LOW 1839.00;CLOSE 1865.50. . ND overcame 1750 on close. This close helps build the already better looking ND pattern. As mentioned in April 11, 12, and 16 comments, ND hadn't looked this good in weeks, since the January rally. Make first support 1800-1820. Resistance 1880-1900. . .