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

To: Jorj X Mckie who wrote (4204)6/28/2001 10:39:25 PM
From: John Pitera  Respond to of 33421
 
Tom, yes, the FED governors agreed in the May meeting that they would need to stop easing before signs of
an economic turnaround were evident.

I was looking at 3 and 4 year charts of the Bank Index today (BTK.X) and the chart looks reasonably good.

Something of an ascending triangle with mostly horizontal overhead resistance and rising lows since March of
2000.

It looks like we can have a NASD and SPX rally for the next 3 weeks or so, the NASD does have overhead
at 2375-83, and the 200 dma is only another 125 points or so above that.

The VIX and the VNX are pretty darn low which has got to bother the bulls a bit.

John



To: Jorj X Mckie who wrote (4204)6/29/2001 11:13:26 AM
From: David N. Jones  Read Replies (1) | Respond to of 33421
 
I agree that we are ready for a pullback at this point on the p&f chart. I also have my candle chart indicators just breaking out so all in all a breakthrough looks highly likely for next week.
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