MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who wrote (14456)	8/29/2002 3:57:30 PM
From: Chip McVickar	of 19219

J.T., Since I posted here my turn dates, a follow up seems needed. The series of Time Projections presented did not change the downward trend into the 27th and 278th as I had anticipated, so that part of my read was wrong for this time around. But I'm not yet ready to sell my long positions. Certainly the internals and chart patterns are weakening, and pointing towads further market declines, but todays bar is looking better at the close, and the SPX looks to have found horizontal support at 900±. Also the dollar and bonds look stronger on the day. Finally it is not totally wrong to believe that the markets will rise into and after Sept 11, 2002 as the country faces that tragedy. My Best, Chip

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