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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: J.T. who wrote (1194)11/9/1999 12:18:00 PM
From: J.T.  Read Replies (1) of 19219
 
MITA is not a cookie cutter class on S.I thread where an empty head is to be filled. It is about support and resistance levels that are posted and tested day in and day out.

If you have belief we are headed higher, fine. I have no problem with that. Post your reason why and back it up.

But if you cut and run with jabs you will be held accountable.

Look at this post regarding DOW last Wednesday in MITA 1,194:

...<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>...
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DOW AND BKX ARE NOW BANGING ON THESE LOWER SUPPORT BANDS ESTABLISHED LAST WEEK. WE MAY BOUNCE OFF THESE LEVELS. LET SEE.

MITA backs it up. BULLS were roaring in orgy yesterday after MSFT and broad market gets thru unscathed.

I am lone BEAR poster and stick to this simple BKX and BKX does not fail.

Best Regards, J.T.

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