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 (4778)	10/6/2000 12:16:33 PM
From: J.T.	Read Replies (1) of 19219

marginmike, todays action is very real and will accelerate. Sit on your hands it is going to get ugly this afternoon and into monday, imho... Today is point of recognition for Bulls that something is not right. Watch for Rydex closing numbers from bobby bearra tonight to verify capitulation... I think DOW mus test DOW 10,480 on a minimum we are now down 83 to DOW 10,641... SPX 1,380 intraday minimum we need another 35 points downside as we are at SPX 1,416... I made a mistake selling Q early 73 1/4 as it subsequently hit my initial 84 target and has turned back down to 79 5/8... Now we are going to get one more opportunity to load up on Q low 70's high 60's if we are lucky... If supports hold on both macro indices and micro-issues today as I have posted over the past week or so then it is possible market is trying to identify support for a bottom. However, I will not discount todays break as it is very real... Especially with BKX and SPX. Best Regards, J.T.

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