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

To: stomper who wrote (9455)	5/21/2008 11:34:40 PM
From: oldsman	Respond to of 33421

Thanks stomper

To: stomper who wrote (9455)	5/22/2008 12:07:45 AM
From: ajtj99	Read Replies (2) \| Respond to of 33421

DIG and DUG had huge, high volume reversals today. Since they are relatively new ETF's, we can't be certain this is a significant event. However, in their short history, the candles and reversals are. I believe it is mroe a result of the weakness of the indices rather than their particular sector. No matter how strong a sector is, it can't escape moving with the overall market when that market is likely moving towards new annual lows.

To: stomper who wrote (9455)	5/22/2008 12:26:35 PM
From: nspolar	Read Replies (2) \| Respond to of 33421

You might find this reply odd ... but also consider the $XAL. I do not in any way believe the airline industry is going to disappear. I can not think of more sensitive indice, in the inverse sense, to oil. My read on the $XNG, $XOI, $DJUSEN and crude is mixed ... I think a top is in the making but it sure is not verified. The XOI imo looks most of the related indices to have a bit further to go. The $XAL on the other hand seems a bit more clear. I think it is very close to a major low. It seems due for a pretty major rebound. There are a couple of Bradley indices to follow as well. The one most use, shows a huge turn of sorts on June 7th. The other one is a bit more convoluted. I kind of like this June 7th turn possibility. amanita.at marketclues.net@keatepartners.com The oil/gold ratio is another indicator, looks very near a top. Gold in the past has peaked a bit before oil.