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 (2116)	12/23/1999 3:18:00 PM
From: J.T.	Read Replies (1) of 19219

BKX UPDATE: BKX right on this BKX 774 upper resistance level now MITA has firmly established and second close above this on Monday will give us this chance for DOW 11,665 we mentioned in MITA 2,116: ...<Two closes above BKX 774 will give us this chance for new DOW highs and DOW 11,665 by year-end - a remote possibility but one that exists nonetheless>... Next Monday's action is important if after making new intraday highs we turn back down at the bell or not. Interest Rate concerns will be top priority going into new year. MITA 2,116: ...<Whether we have any last santa rally or not now is immaterial and irrelevant. An additional 3% in the DOW from 11,144 is DOW 11,400 - Who Cares. 3% higher from all time highs is DOW 11,665. This is now the top for '99 best case scenario. The risk now outweighs the reward and interest rate sensitive issues like BKX and UTIL are capped out of any material gains until after February>... BKX is capped out at BKX 795 high close for the year. Best Regards, J.T.

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