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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: J.T. who wrote (691)9/28/1999 12:21:00 PM
From: J.T.  Read Replies (1) of 19219
 
The radar has now locked onto 3 of the last 4 capitulation support indices mentioned on September 3rd:

1)DOW 10,550 XXXXXXXXX  TOAST XXXXXXXXX
2)UTIL 307   XXXXXXXXX  TOAST XXXXXXXXX
3)TRAN 3,012 XXXXXXXXX  TOAST XXXXXXXXX 
4)BKX 765    XXXXXXXXX  TOAST XXXXXXXXX
5)SPX 1,294  XXXXXXXXX  TOAST XXXXXXXXX
6)RUT 412   #3 IN BATTERY    
7)NDX 2,328 #2 ON DECK
8)SOX 509   #1 AT THE PLATE FOR S.O.
9)IIX 273   #4 and last in dug-out


SOX, RUT and NDX are going to fight for bragging rights which index is going to take runner-up (2nd to last to eat dirt) to IIX... the last index which will take the prize of the last to fall.

It is becoming quite clear now. Once the final index, the IIX approaches that 273 level intraday, and it may or may not breach that critical support level, it will be at that time to go long for a good bounce...

As always, I reserve the right to be wrong, be flexible or modify this prognostication.

Best Regards, J.T.


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