SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: J.T. who wrote (1915)12/15/1999 1:52:00 AM
From: J.T.  Read Replies (3) of 19219
 
BKX UPDATE: DOWN IN JUNGLE-LAND. Or BADLANDS? Springsteen.

Well, we got a full boomerang effect from BKX 774 to BKX 801.80 Intraday high and back to this BKX 772.74 close today. Now What?

For starters, New resistance for MITA is now BKX 788. Then BKX 795 and then BKX 808. Two closes at or above BKX 808 which is this 89 day MA and the market will finally let Santa Claus deliver the goods for Christmas.

BKX Supports need to be tightened up. First, a second close below BKX 775 is BEARISH and if this second close, combined with even higher bond yields tomorrow and lower UTIL and TRAN levels and it may be time to close up shop for the year on the Bulls. However, I don't believe all of these parameters will be booked tomorrow and Santa really wants this grinch to go away for this short while. Nevertheless, let the levels show the way and market be our guide.

New BKX support is BKX 768.50. Below this is BKX 752.Grave support is BKX 737. Note that BKX put in this lower bottom seemingly long ago on OCT. 15th at BKX 709.85 before we spiked up.

.One close below BKX 752 with lower closes in UTIL, TRAN and higher bond yields all in same day vs. previous day and it is HIGH TIME TO EXIT THE BULL THEATRE. PERIOD.

Best Regards, J.T.

Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News