MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: pater tenebrarum who wrote (603)	8/13/1999 11:43:00 AM
From: J.T.	Read Replies (2) of 19219

heinz, today's rally is indeed very strong and again has smartly bounced off 200 DMA of some indices. The A/D Index is performing much better today than the last two days as both the NYSE and NAS is a bit better than 1.8 to 1 advances over decliners. This is not nearly as good as earlier when NYSE was 3 to 1 and NAS 2.7 to 1 A over D. Nevertheless, still a strong day across the board. We may regain strength in this index as the day moves on. DOW has blown through not only 10,830 but 10,900 as well. A test of 11,025 is imminent. Two closes above 11,025 DOW will pull out the hanging man for the bears and continue the upward trend. NYSE new highs total 25, new lows 84. This is pathetic for this kind of rally. NAS paints a more bullish 2 to 1 positive picture as new highs are 52 to new lows 21. Best, J.T.

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