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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who wrote (307)7/2/1999 8:43:00 AM
From: J.T.  Read Replies (1) of 19219
 
Employment #'s were as follows:

New jobs creation: 268,000 vs 220,000 street estimate
Unemployment rate: 4.3% up +.01% from 4.2%
Wages up .04%
Bonds immediately went from + 3 ticks to -13 ticks in a heartbeat and
S $ P futures went down from 2 points to down 6 points. NDX 100
futures down 13 points. S & P Futures now down only 1 point and no
great market shattering # here we should see new highs today on DOW
and no later than next Tues or Weds.

Now S & P Futures +190 and NDX Futures -4 points. We could get ready to rock.

This from MITA 307:

<<I would place those odds very slim (say 10% chance) on a double top
in the market. For the double top to occur, tomorrow's unemployment
#'s would have to come in at something like 4% from 4.2%(highly
improbable, but not impossible), and new non-farm job creation would
have to be in the neighborhood of 350,000+ vs. consensus estimate of
220,000 new jobs. If this occurs, yes we could have this sharp swift
downward jolt. But everything else has come up smelling like a rose.


7.30 Est time bright and early report. We are clear sailing if we get
through this #.>>

Best, J.T.
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