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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 (5750)	3/1/2002 1:00:32 PM
From: John Pitera	Read Replies (1) \| Respond to of 33421

Hi Tom, thanks for the very interesting chart. I was looking at the NASD 60 minute bar chart over the past 60 market days. I noticed that the Welles Wilder's ADX Indicator hit it's highest reading 2 days prior to the Jan 9th high and then hit a similar reading on 2-20-02 today days prior to the 2-22-02 low. Also the Directional + indicator hit it's highest reading of the past 60 market days, 2 and a half days prior to the Jan 9th high. This shows that the hour over hour directional movement was strongest going into the Price high as you suspected when I told you back then. the Directional - reading on the hourly NASD chart reached it's highest reading 3 days prior to the 2-22-00 low. This suggests that we may have "bookend" pattern in the price action with the action in early January being mirrored with the Action, in Late Feb. John