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 (1194)	11/3/1999 4:23:00 PM
From: J.T.	Read Replies (1) of 19219

DOW closed at DOW 10,609 and above critical support of DOW 10,600. A hard sell-off in the last hour took it below this lower band of DOW 10,580 very briefly and she spiked back up. NDX closed at NDX 2,672 and above critical support of NDX 2,660. It needs a second close above NDX 2,660 tomorrow to confirm higher ground. My bet is that this does not happen and we turn back down. The jury is out whether NDX 2,672 will be a print high close for the record books for the NDX and the TOP is in or not. BKX closed at BKX 861.76 and near session lows. This index for me outweighs the other two above in calling short term change in market direction which could manifest into a much larger change in broad market direction. BKX closed decisively below BKX 866 support. I believe we are in the infant stages of this hard turn back down, and we are going to test previous lows in the DOW, SPX and NDX at the very minimum. OUT. Best Regards, J.T.

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