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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: J.T. who wrote (885)10/18/1999 2:54:00 PM
From: J.T.  Read Replies (1) of 19219
 
I am running out of patience on this XAU Index. I may cut the cord prior to the bell. The CPI # is obviously going to dictate whether this thing breaks down from here. I don't like the set-up for bullish case.

XAU had its chance to break out from Weds close XAU 81.01 and it failed miserably. As a rule, the longer it takes for any indices or stock to register that potential break-out through resistance, the more bearish it becomes for it in this case XAU to get through XAU 82 let alone upside target XAU 90.50 intraday.

Best Regards, J.T.
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