MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: marginmike who wrote (3365)	5/29/2000 11:13:00 PM
From: J.T.	Read Replies (1) of 19219

mike, market supports held on Friday and this is a huge short term technical plus. I think the market wants to rally more than 1 day in a row but cracks in market exist everywhere nonetheless. BKX closed strong after teetering below BKX 800 and MER bounced nicely off intraday lows on Friday. You know I have raised BKX supports from 780 to BKX 795. MER needs to get back and stay above 98+ minimum levels and this seems a tall order right now... Two closes below this BKX 795 support level or one close below DOW 10,200, NDX 3,000 and I think we will head for hard break of broad market... that is DOW 9,200 and NDX 2,700 intraday and then a smart bounce... On another note... I see China has put in a good word for QCOM. What are your thoughts on Q? Tradable now? Best Regards, J.T.

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