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 (4492)	9/7/2000 1:14:17 PM
From: J.T.	Read Replies (1) of 19219

IIX now at IIX 541.74 up 4.5 and change. We need a close today above the 13 day MA 543.76. I will consider yesterdays first close below this 13 day MA a one day false break if we close back above IIX 544. A second back to back close below this 544 today and I think we can go test IIX 525 area - the 25 day MA. One small piece of the NDX puzzle and further potential downside pressure. Right now, I think yesterday was a one day downside false reading, but I will let market be final arbiter. IIX 5 day RSI at 45. SOX had a 1 day false break below its 50 day MA of SOX 1,087. SOX bouncing smartly now off of yesterday close of SOX 1,057.68. Da boyz washed out the stops hard... We need a minimum close above this 1,087 level today. Now at SOX 1,094 up 34... Market gathering strength. Best Regards, J.T.

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