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 (2531)	4/19/2000 12:13:00 AM
From: Copeland	Read Replies (1) of 19219

I believe marginmike is correct on this beartrap bounce. Just as I was looking for this bounce with NDX 3,660 and BKX 795 as my guide - Now it is high time to put up tight supports and not waver one bit if they break the play for me will be down... Ditto. I don't think the indicies are going to close above those moving average lines tomorrow. I'm definitely expecting some selling on the recent earnings news -- if not at the open, by close. The SOX looks like a good short if it runs tomorrow morning. I'm avoiding gold like the plague -- despite the convergence of the various MAs, as I mentioned, the XAU has way too many false breakouts for my tastes. Too bad we didn't see more of a capitulation fall on Monday. As a bull, I really hate set-ups like this.

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