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 (706)	9/28/1999 11:23:00 PM
From: J.T.	Read Replies (1) of 19219

Smack on the money. It doesn't get any more clear-cut-- From last night MITA 706: ..<DOW 10,410 is now resistance and DOW 10,200 is support. DOW will now have this imminent test and take-out of DOW 10,200 as early as tomorrow but no later than the end of this week which will take us to this 10,050 dire support level>... ..<With the seasonal "quarterly window dress in play" later this week, 10,050 could be breached but nevertheless should find a short-term safety net of support as it becomes quite tricky where the DOW will find a bottom before that bounce comes back to play. More on this as it unfolds>... I have been sticking my neck out knowing full well the guillotine is ready to come down and cut me off and a small gallery would like me to be nothing more than wrong wrong wrong. I am backtesting to provide validity and clarity of statements and to create a daily flow and semblance of thoughts going forward to justify levels. I am not looking for bravado or bragging rights. Lord knows I have been wrong just the same. It simply helps me with cogent market analysis that I can then relate back with clientele. Tom Dorsey of Point and Figure explains this process as "getting religion".. Just believe in what you are doing and with conviction and go forward. It may not be the best, but if it works, run with it... Best Regards, J.T.

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