MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: Toni Wheeler who wrote (65)	6/6/1999 7:54:00 PM
From: Bart	Read Replies (1) of 19219

JT-I think your thread will be very successful!-I really like the support and resistance lines and the way you form your bias either bull or bear. It looks like we are at resistance point now and if we close higher the bull may be back. I think not though as the jawboning of AG and the fed keeps real fear in the hearts of professional traders. For me, these are shorting opps until fed bias change are completely digested. If June's numbers show less strength... We could see confidence return and the bull back on track. CPI and PPI are key. I do believe fed tightening is now deemed likely and thus could minimize downward drop if and when they move... 25 points I think the market can handle...50 I am not so sure.-I think we are range bound for a few weeks. Recent support are buying opps and resistance like now vice-versa. good luck and keep up the great work!-Bart

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