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 (1766)	12/7/1999 10:00:00 PM
From: Magnatizer	Read Replies (2) of 19219

J.T. I enjoy MITA. I think this thread presents a bear case which is backed by more then the simple valuations argument. I am not a bear, nor a bull. Trying to stay as impartial as possible however hard that may be. Most of my work points to an upward move in the market for the next 5-7 months at a minimum. I do not believe every day should be an up day but, come next July, I think we will be higher then we are now. In light of that I am watching the BKX for a potential reversal here. If it does not happen in the next 3 trading days I will be concerned. If it does not happen in the next 5 trading days, I will be more concerned. If it does not happen in the next.... well you get the drift. Support level I think is most critical on BKX is 779. Here are some charts including the BKX (the magnet trendline cross today had a value of 797). Of note on the BKX chart is the action following the trendline crosses. It is generally a time of reversal, thus my feelings of a probable reversal. geocities.com ht david

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