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 (2840)	5/8/2000 4:09:00 PM
From: Lost to Voodoo	Read Replies (2) of 19219

I think we've got a way to go before we get close enough to that upper band. I've been experimenting with different EMA's & 5 days gives an earlier signal with a somewhat greater risk of false positives. I'm looking for two consecutive ascending touches (or extremely near) of the daily highs & I don't think that will happen too soon. On the 5 day MA the daily readings aren't that meaningful - today was a little over 3800 for example, but since the band adjusts so quickly we just have to wait for the points of contact - can't anticipate too easily. However, the 20 day bands usually constrict quite a bit around that time (volatility contraction) and they have a ways to go too. I think we're going to break down the bottom side of this wedge pretty soon though for another downleg.

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