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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: Matthew L. Jones who wrote (386)8/4/1999 11:13:00 PM
From: J.T.   of 19219
 
Matthew, Regarding the DOW support and 10,410 area:

I think you are right on. You must go back to April and
take a closer look at the volume:

Date Open High Low Close Volume
22-Apr-99 10735.8 10896.4 10517.9 10727.2 9,279,000
21-Apr-99 10462.6 10702.6 10309.1 10581.4 9,200,000
20-Apr-99 10440.5 10610.1 10212.9 10448.6 9,854,000
19-Apr-99 10566.1 10879.8 10284.4 10440.5 12,144,000
16-Apr-99 10497.3 10632.9 10299.6 10493.9 10,023,000
15-Apr-99 10411.7 10673.9 10201.3 10462.7 10,898,000
14-Apr-99 10436.9 10692.5 10196.9 10411.7 9,520,000
13-Apr-99 10340.6 10512.1 10239.3 10395 8,109,000
12-Apr-99 10094.2 10384.5 10042 10339.5 8,108,000
09-Apr-99 10166.6 10298.7 10035.1 10173.8 7,161,000
08-Apr-99 10083.9 10282.6 9980.7 10197.7 8,505,000
07-Apr-99 10023.4 10166.6 9860 10085.3 8,164,000
06-Apr-99 9985.7 10097.3 9862.5 9963.5 7,875,000
05-Apr-99 9893.8 10080.9 9826.4 10007.3 6,958,000
01-Apr-99 9825.3 9927.7 9707.9 9832.5 7,030,000
31-Mar-99 9968.2 10025.1 9744.8 9786.2 9,243,000

April 15, 16, and 19 rank as 3 of the 9 most hevily traded
days ever recorded on the NYSE. As you can see, the DOW traded
b/w 10,440 and 10,493. Underneath this level you see significantly
lower volume and the break of the DOW.

Best, J.T.

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