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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who wrote (1122)11/3/1999 2:47:00 PM
From: J.T.  Read Replies (4) of 19219
 
I am watching this DOW 10,580 to DOW 10,650 band level like a hawk. DOW is now at DOW 10,640. DOW needs to get thru DOW 10,650 on a close. A close below DOW 10,600 is a technical negative and if confirmed by the following the countertrend rally is over:

1)BKX needs to hold this BKX 866 level into the close. I will not wait for second close below this level. BKX is now at BKX 869.

2)NDX needs to close above NDX 2,660. If NDX closes below NDX 2,660, for me the TOP will be booked into the records for the NDX. NDX is now at NDX 2,682.

We are bouncing up nicely right now.

These are my critical support levels. This is an extremely critical time in the market right here with 1 hour and 15 minutes to go.

Best Regards, J.T.

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