DOW JONES - April 2001
Thursday, April 19, 2001 10:27 AM, PST
An Example of DiNapoli Techniques used to PredictFuture Price Turning Points
On April 2nd 2001, when everyone was calling for lower lows, we predicted Dow support at the 9400-9450 area. Our "Bread and Butter" pattern, clear to those that know it, gave us a clear (and accurate) expectation of support. The Bread and butter is one of nine directional patterns developed by Joe DiNapoli - in over over 30 years of trading. All are described in great detail in the book, Trading with DiNapoli Levels.
Click chart below for enlargement.
Four days later, the dow rallied an incredible 780 points to 10155 after supporting at 9375.
See the chart below.
Then on 4/5/01, Joe posted a message saying, "Wanted to show you an expansion that could provide some important support for the NASDAQ composite." Accompanied by the chart below:
Click chart below for enlargement.
From there the composite rallied some 163 points in a single day!!!
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