MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: macavity who wrote (4080)	8/4/2000 2:48:58 PM
From: bobby beara	Read Replies (2) of 19219

macavity, i agree the market is working off the oversold condition and may churn for another week or two, possibly all the way to the fed meeting. This is not 1994, people were bearish as hell and out of the market and buying boatloads of putz in 1994, look at the daily rydex numbers, no fear, everybody is in and every little rally they all pile back in -g- here are some leadership stocks that made new highs on july 17th, which look to me completed five waves up from 1998 low, these things need to correct a lot more or at minimum go sideways for a long time to build a base NT had two black gapping candles off the top a "rout of the bulls" stockcharts.com[L,A]DACLYYMY[DF][PB50!B200][VC60][IUB9!LA12,26,9] Adobe has the cleanest 5 wave count with an ending exhaustion wedge. stockcharts.com[L,A]DACLYYMY[DF][PB50!B200][VC60][IUB9!LA12,26,9]

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