MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: pater tenebrarum who wrote (197)	6/24/1999 10:55:00 PM
From: J.T.	Read Replies (2) of 19219

Heinz, even when the major indices were holding support today and even had this little rally prior to the last fifteen minute breakdown, I kept staring at the TRAN and it wouldn't budge above 3,345. The TRAN for me was way ahead of the other indices and when it started tailing off back to 3,337 and lower, the other indices did an about face. I mentioned very clearly that I needed to see TRAN hold above 3,350 last night. It is the earliest warning signal and it did not fail me. The TRAN barometer convinced me to buy more July DJX puts prior to the bell. Guess I have to make up for my PIXR 55 calls totally submerged under water in the land of Atlantis. Best, J.T.

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