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 (466)	8/8/1999 2:30:00 PM
From: James Strauss	Read Replies (1) of 19219

J.T.: With most of my money on the sidelines I'm hardly complacent... : > But, I've seen how the game is played... Interest Rates is the major market moving factor followed by Earnings... After the August Rate cut the Dow should have given a Dow theory sell signal if it moves below 10,400... Then we get some panic selling that could take the market down to the 9500 - 9600 area on big capitulating volume... Then I expect the Dow to mark time until the last 1/4% rate cut, at which time the market should enter an explosive relief rally to celebrate the end of the rate cuts and a possible anticipation of end of year rate cuts... This will happen when many are scratching their heads at the remarkable turnaround that few believe is real... Jim

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