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 (5295)	11/22/2000 5:22:25 PM
From: David Lee Smith	Read Replies (1) of 19219

The MomentuMonkey Indicator is now NEUTRAL for both momentum and valuation. The target price is 1292 for the S&P 500. This will not be reflected on my webpage due to computer difficulties until this weekend. Usually, a NEUTRAL rating in a downtrend suggests covering short positions and going to cash. It is too early to reverse and go long, except perhaps for an over-sold bounce. I am covering my Pro Funds Ultra Bear (2x S&P) and going to cash. The news today have put the markets in Limbo. Have a happy Thanksgiving!

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