MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: Killswitch who wrote (10688)	2/21/2002 6:15:11 PM
From: macavity	of 19219

Something bullish in my charts. I do not want to sound glib but that is the truth. I can give levels, but in all honesty I prefer to look at charts, behaviour and indicators. I am essentially a trend follower, and for now the trend is down. There are bullish divergences, but only for quite short period momentum indicators. All the bottoms since Sep00 have been characterised by fear so they have been quite obvious. I do not think that this may be the case this time. I would need to see bullish divergences in Daily PPO/MACD for me to really start getting less negative on this decline, as in Apr2000 reaction rally. For now I only see this in some Biotech and Telcos. -macavity

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