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 (784)	10/12/1999 3:57:00 PM
From: J.T.	Read Replies (2) of 19219

Market is setting up real bad for these forward looking announcements from INTC and MOT and is confirmed by IBM and broad market: MITA 784 last Thurs OCT 7th: ...<All indicators NDX, SPX SOX, BKX, RUT clearly established, including IBM got this nice counter-trend bounce. And, one by one, we achieved all of these upside objectives. And now IBM has the early start back down as we have stated. Again we get this first close below 118 (on this second go-round)at IBM 116 3/8 down 2 13/16. IBM's gravitational magnetic pull leads to reversals in the other key indices. Notice that SOX, BKX, NDX have turned back down and now the worm turns. A second close below 118 will seal the markets fate and take the DOW back below 10,081 and break DOW 10K decisively before we hit an intrady low support of DOW 9,770. On the other hand, it is clearly obvious with a bullish employment number that the second close below IBM 118 will not materialize and the market will continue to rocket northbound with the DOW testing 10,700 intraday>... Best Regards, J.T.

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