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 (1794)	12/8/1999 4:29:00 PM
From: J.T.	Read Replies (1) of 19219

BKX UPDATE: BKX does it again and puts exclamation point to Friday's FRAUDULENT ACTION. BKX 795 support is put to bed as we tanked and had this second close below 795 to finish at BKX 774.05. BKX 795 is now resistance. BKX 774.05 is less than one point of new support BKX 775 MITA 1,794 established last night - The Backtest: ...<If on the other hand, BKX 795 is violated a second day on Wednesday, and we do in fact lock in this second close below 795, we then have new resistance at this level as it becomes the ceiling and we then go look for a new floor level of support. For me, the new support will be this BKX 775 level if bond yields are stable in this 6.18% to 6.23% level. If we start creeping back up to 6.24% and up, BKX 752 would provide next buffer of support>... Bond yields true to form as we finish in band MITA set for BKX 775 at Yield of 6.22%. If yields back up to 6.24% or higher tomorrow, BKX 752 is on deck, otherwise a bounce will bring us back up to BKX 790 test. Best Regards, J.T.

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