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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: marginmike who wrote (2908)5/12/2000 10:08:00 AM
From: J.T.  Read Replies (1) of 19219
 
marginmike, for me, we had our 1 week crash the week of April 10 to April 14. Over the next month leading up to Tuesday, we had several reaction low successful tests and now we are ready to run.

I laugh at fundamental short term argument to justify bottoms because it is technical analysis ONLY that can call these moves only. Fundamental analysis is like a long term smoothed over trend that technicals call and justify.

If fundamental argument was answer why the hell did we rally off the terrible employment report. We were lock limit down pre-open and were up within half hour of open. We closed solidly higher on terrible FUNDAMENTAL NUMBER.

The TRIFECTA in MITA 2,831 I talked about way back to back to back numbers and we should be moving lower still BECAUSE OF FUNDAMENTALS, but it is TECHNICAL ANALYSIS that has called this bottom.

...<To: marginmike who wrote (2830)
From: J.T. Friday, May 5, 2000 10:42 PM ET
Reply # of 2909

marginmike, all the economic numbers in the past week - the employment cost index, the productivity numbers, and now the employment report -
it is a troublesome trifecta... the analysts have all weekend to soak up the data and might wake up to a bad dream next week in the markets>...

BUY IT UP.

Best Regards, J.T.
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