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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who wrote (1766)12/7/1999 6:01:00 PM
From: Matthew L. Jones  Read Replies (2) of 19219
 
JT,

Actually, looking at a 30 minute chart of the S&P futures, the last time the ESZ9 had an oversold period nearly as long was October 14-15 and again 18-21. Today (as of the close) the stochastic oversold period is longer than either time (both right prior to bottom).

Of additional interest is the high market volatility the last half of the day. The violent swings in the S&P futures market is indicative of an intermediate market bottom.

As for the NASDAQ??? Go figure. Anyone catch the 67 point up move in YHOO today? Talk about nuts.

csf.colorado.edu

Thought I would attach this chart for the arsenal of some of you bears. Never know when you might need it<G>.

Matt
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