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 (213)	6/27/1999 1:41:00 PM
From: Bart	Read Replies (2) of 19219

JT-My feeling here on mkts. in general is that no one wants to take big positions before AG and FOMC announcement...Will bias remain toward tightening?..if so we may be stuck in the mud for quite some time....On the other hand,earnings are just around the corner and seem to be stronger than usual. Ultimately stocks are driven by earnings, no? This anemic volume tells me that there is a ton of Money just itching to go somewhere...I bet it goes back to equities after bonds find a level..AG has done a great job of slowing down the market..bonds are up 100+ basis points from lows..The market already have priced in 4 .25 point moves!-If we only get 1 or 2 .25 point moves by Fed...I think optimism will return. If consensus opinion becomes more than 2 .25 point raises by fed and I think markets stay sickly for months.-I think chances favor the 1 or 2 fed raises scenario and a big summer rally starting in the next 2-3 weeks..maybe next week will give more definition if FOMC will take a stand and give definitive direction to the markets.

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