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 (116)	6/17/1999 9:10:00 AM
From: J.T.	Read Replies (1) of 19219

FIBONACCI'S LAST CALL FOR SAVING FACE Fibonacci needs to hold these HIGH and some real tight (OEX SPX)resistance levels, OTHERWISE NEW HIGHS ARE IMMINENT: DOW: 10,917 SPX: 1,336 OEX: 677 NDX AND COMP CLOSED ABOVE FIBONACCI LEVELS YESTERDAY, BUT WE MUST ENTERTAIN POSSIBILITY OF ONE DAY ABERRATION. Need to stay above these TIGHT supports on a close. TWO DAY CLOSES BELOW these levels will turn these levels back bearish: NDX: 2,158 COMP: 2,498 There is a serious battle going on for these high resistance levels defended by bears and get taken out by bulls; in the same likeness, maintaining advances in the line of demarcation for high support level watermarks and consolidating these gains is ultimate victory for bulls toward advancing bull troops to new highs. We should be lower out of the blocks with CPQ profit warning and continued restructuring. Dow down maybe 40 to 50 and then bounce. Lets see where this bounce leads us. Best, J.T.

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