MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: Stcgg who wrote (2713)	4/28/2000 12:26:00 PM
From: J.T.	Read Replies (1) of 19219

Stcgg, Nice chart. BKX has become the heavy burden again for the DOW and SPX. We could not close twice back to back above BKX 815 with the one false reading and now we are headed back down to that lower support BKX 730 area as noted in archives. Now at BKX 760. To be sure intermittant isolated mini-rallies will emerge in BKX - and we do have seasonal strength the first few trading days of May - but we are still rangebound nonetheless. I think we can have maybe one day close above NDX 4,000 sometime next week and then back down we go to mid range of the channel around NDX 3,580. Best regards, J.T.

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