MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: marginmike who wrote (895)	10/15/1999 4:17:00 PM
From: J.T.	Read Replies (2) of 19219

marginmike, sometime on Monday no later than Tuesday, yes, we will put in this TEMPORARY BOTTOM. Followed by the start of another counter-trend rally that should be a quick and hard thrustward up. Maybe two to three days. Then back down to test and penetrate through these lows set in place in this current bottoming formation. Look at where this TRIN finished today. A meager TRIN 1.16 after it had spiked over TRIN 4.00 this morning. This tells me that this hot and bothered eagerness for selling right of the gate was followed by the "this ain't so bad mentality" as the day went on right into the close... and despite the fact that we pierced virgin 10K on the downside for a brief few seconds and finished near session lows. The frog is feeling cozy in this warm water. And this frog is going to get cooked after this hard upward countertrend thrust north early next week is going to sucker more in for the harder thrust back down. I will lower my DOW target DOW 9,770 after I see how it unfolds. OUT. Best Regards, J.T.

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