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 (5843)	1/2/2001 8:27:43 PM
From: JRI	Read Replies (2) of 19219

J.T., while I "hear ya'" about the Hirsch "first 5 days in January" thing....this bear has really not respected such historical trends..notice: Strike one: We usually bottom in October (annual basis). NOT! Strike two: Election years (June-December) almost always positive. NOT! Strike three: Last week of year, especially in Naz bear markets, almost always up. (5 out of the 6 Naz bears since '71...the biggest up week being in '73!)...NOT! Hey, I'm on a roll....one more strike: Strike four: The final day of the year is up, by my count, usually 75-80% of time. NOT! So, in other words, this bear has not respected too many trends, historical or otherwise....what it HAS SHOWN in November and December...is the ability to bounce after several days of selling and/or intense selling....therefore, I expect that we will get some sort of counter-rally soon here on the Naz (tomorrow? If hard down/panic open)..also, after 4 down months on the Naz, I agree that we are due..... When do we bounce? That is the question....I'd love to see 2k on the Naz tomorrow....we need more fear...

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