MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: clochard who wrote (253)	6/28/1999 11:44:00 AM
From: J.T.	Read Replies (1) of 19219

Steve, If we get this "melt-up" today and tomorrow, this may have boomerang effect of FOMC and Mr. G raising not only 1/4 point but also the discount rate. 1/2 point rise fed funds is outside chance to nip asset inflation in bud if window of opportunity is seized by FED and taken advantage of. Bonds would soar, and stocks would sell-off to supports. Supports then may or may not hold. If they hold, we then get the next leg up to 11,500 to 12,000. If supports break, 9,450 DOW and 1,220 SPX 1 or two day wash-out test in the cards and window of opportunity for good buys for quick trade. Need to keep open all possibilities. Best, J.T.

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