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

To: John Pitera who wrote (5245)	12/10/2001 3:58:35 PM
From: John Pitera	Respond to of 33421

Biotech index falls below it's 21 DMA today, for the first time since Oct 9th of this year, it and the XBD broker index have been 2 of the market leading sectors. The XBD is still in stronger shape technically. stockcharts.com[w,a]daclyymy[dc][pb50!b200!b21!i][vc60][iUb14!La12,26,9] The SOX which had broken above it's 200 dma several days ago has now come back and is touching it's 200 DMA. If we see it break down throught it's 200 dma as well as the BKX and SPX fall below their rising 21 dma's we'll see more pronounced selling stockcharts.com[w,a]daclyymy[dc][pb50!b200!b21!i][vc60][iUb14!La12,26,9] The BKX has made a lower high at the 200 dma last week and it was the second time that selling occurred as the Banking index hit it's 200 DMA. The index has caught support at it's still rising 21 DMA and It will be very important to see who is in charge, the bulls or bears, as we're at decision point. Either the BKX moves up through it's 200 DMA which will be bullish or we'll mostly see not just a drop below it's 21 DMA but a larger decline start to unfold. John stockcharts.com[w,a]daclyymy[dc][pb50!b200!b21!i][vc60][iUb14!La12,26,9]