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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: sherlockgerlach who wrote (2517)4/18/2000 10:22:00 AM
From: J.T.   of 19219
 
thanks sherlock. NDX now at this NDX 3,580 up 50+ (3,618 1st hour high) towards this NDX 3,360 target and BKX moving higher to BKX 772 up 6 from 776 intraday high..

Watch this in conjunction with XAU inverse relationship down below XAU 55 down over 3%. I am looking at this XAU 54.24 support and see if we pierce below it sometime today and pop back above it before the close.

If we hit or come close to desired NDX 3,360 and BKX 795 resistance levels and reverse along with XAU revrse off bottom this afternoon I may play this XAU for this run to XAU 70 to 72 area. But I will wait for market play its hand.

We have a lot of fireworks for earnings after the bell with INTC IBM et al with trade number tomorrow morning.. Will earnings fuel this thing to higher resistance NDX 3,910 or will it be buy the rumor sell into the earnings we shall see...

Best Regards, J.T.
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