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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: 2ripley2 who wrote (3485)6/9/2000 6:13:00 PM
From: J.T.  Read Replies (2) of 19219
 
2rip, yes. BKX 820 is now higher critical support level. 2 back to back closes below BKX 820 signals break of market. BKX closed at BKX 822 down 19 points.

UTIL critical support is UTIL 318. Back to back close below 318 in conjunction with double close below BKX 820 spells big trouble for SPX and DOW.

It would set up DOW ultimate test of DOW 10,200 and ultimately take it out. SPX would test SPX 1,400 support above 1,380 critical support.

Only on the break of 820 and 318 X 2.

Best Regards, J.T.
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