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

To: John Pitera who wrote (8801)	1/24/2008 4:45:00 PM
From: Terry Whitman	Respond to of 33421

Ever get a feeling of Deja Vu? I thought I'd seen this sell off before. So I checked back to the beginning of the last bear market, and voila. There it is- Just a few weeks after the 'golden cross' of the 50 day moving avg. below the 200 day in December 2000. There was a 10% SPX drop in about 7-8 days, followed immediately by a sharp rebound of about 7.5%. Amazingly enough, the recent drop lasted 7-8 days, and lost right at 11% on the SPX. Check it out on stockcharts.com. Set dates to 9/00 thru 3/01 and compare it to a chart of the past 6 months. The market never quite recovered the level from which the 10% drop occurred. Probably would be a good rule of thumb here. That level would be... Drum roll please.. 1430 SPX Cheers, TW