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)	9/30/1999 2:20:00 PM
From: J.T.	Read Replies (2) of 19219

This BKX DOW one two combination I have stated is dead on the money: Here is where it started: The backtest from Tuesday after close MITA 736 : ..<Now for some upside targets. One of the first indices that needs to get legs is the BKX. This BKX has been a dog of late and has now turned the corner. With this huge intraday reversal from 730 low to close at 742.50 has set the stage for this little lift-off. Tomorrow we should see an immediate test of 755 BKX. This may come out of the blocks within the first hour of trading but no matter as it is going to run hard to 790 BKX intraday within one week before settling down. ..<DOW we should see this run to 10,410 area as early as tomorrow and ultimately test 10,550 resistance while SPX first 1,294 intraday tomorrow and ultimately back up to 1,315 intraday by the end of the week for both.>... Next yesterday's action on MITA 738 and BKX/DOW interconnectivity : ..<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>... And the reco MITA 742 Buy em when no one wants em: Bonds down 3/4 of a point and yields backing up to 6.12% off of the strong durable goods # this morning. This will keep BKX Index/ under tight wraps for today. Nevertheless, it will not hinder or keep a lid on this impending BKX rally to ensue. I am still very bullish on this BKX Index and the stronger stocks option plays in this group can be picked up on the cheap now for this run to previously mentioned target levels. Do your own due diligence. Clear cut. Even in the face of SOX breakdown. Best Regards, J.T.

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