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 (736)	9/29/1999 10:46:00 AM
From: J.T.	Read Replies (3) of 19219

BKX is still stuck in the mud this a.m. This needs to get thru 745 for any potential strong afternoon rally to reach 755 target. This would certainly give DOW its lift as C, JPM and AXP are in DOW. I do not like to see a weak IBM as we are at 121 3/8 down 2 1/4. This will act as anchor and drag down DOW from serious gains today.As a cockamanied sidenote, I still have Oct puts on this puppy that I have not closed out. A close below 120 is not good for the market. NDX could not get past 2,450 and this is a technical negative as we are now down. Held at NDX 2,418 level support. Must hold on retest or we go run to 2,400. More later. Best Regards, J.T.

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