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 (663)	9/22/1999 11:52:00 AM
From: J.T.	Read Replies (1) of 19219

DOW and SPX leading the way down as mentioned yesterday (below) as we temporarily can not hold DOW 10,550 and SPX 1,300. The bounce is now in play. SPX low for now is this 1,297. A break thru 1,294 correlates to DOW 10,470 and this would intensify the selling and the mass exodus to the theatre exits. ...DOW and SPX have been in this confined trading range and will lead the next leg down of the break. No volume, overhead supply and no legs in any of the latest rallies. No gas left in the tank. Finally, techs almost always are the last to fall in a bull market. Techs being the latest information age stocks within SOX, DOT, IIX and NDX.>.. NDX and SOX attempting to firm. NDX 2,450 critical support is equivalent of 10,470 and 1,294. NUTS still strong and will be last to unwind in any heated selling. Best Regards, J.T.

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