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 (3660)	6/29/2000 5:47:00 PM
From: RW_Coffman	Read Replies (1) of 19219

Thanks for the welcome. This is a very interesting market -- Wed. I decided to short the NDX when there wasn't much movement after the announcement by the Feb. Also the VIX had dropped Wed. to a sell signal and the TRIN is still way above 1 which means that institutions continue to sell. What surprised me today was that in a down market the VIX usually starts going back up but it dropped way below the bollinger band! A major sell signal! The talking heads on CNBC were saying that because we are at the end of the quarter the market will probable go up tomorrow. Hard to believe they would say that because as I said in my last post 7 out of the last 8 years the market has been down on the last day of the second quarter!! Maybe that is why the VIX went down.....everyone agrees the market is going up tomorrow. I am going with the odds and kept my short -- but as I also said I will probable go long at the end of the day to catch a small up day on Monday. That is unless the VIX continues to go down.. Oh well -- I have been wrong many times so it will be interesting to see what happens. I really like this board so I plan to stay around. Thanks for all your input.

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