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 started this subject	1/3/2001 3:56:58 AM
From: macavity	Read Replies (1) of 19219

NDX/COMPQ The low Rydex numbers help the cause of the bear market rally. We are about to get a stage 1 reversal of what played out in Q4 2000. Bonds are at extreme o/bought levels. My one problem is that my SPX target is at 1230. I cannot see the SPX getting here without NDX going lower, but I guess you cant have it all. Some funds are down 10 - 15% on the first day of the year. What a fantastic statistic! This is unbelievable (not really) but I guess that we now see how resolute the small investor is. Mutual fund redemptions - I really do not know, but that signifies the C word - CRASH. Is it possible? Perhaps but I do not know how you figure out that one. All I know is that there are bottoms being formed in tech - first time for everything. We are about 1 mth into this process on average. The first to bottom where the some of the telecoms, then the semis, and I see a bit of it in the boxmakers. From what I see bottoming has been a 2-3 month process so we may have some way to go. JT has pointed out most of the industry group behaviour already. The Telecos where out performers yesterday and have been since 21Dec2000. There is good relative strength in this sector and I suppose one could blame the failure of tech on them as now they cant afford to wire the world - LOL. Whare can I get a list of stocks in XTC, or any of these groups? OT: I have a little 'Asbestos' Watch - FMO/GRA/CCK. It has been going great guns of late, and I think they could be breaking out. Anyone know any other stocks that are under this cloud - they have nice improving money flow, and I am going to start accumalating these - slowly. No moral objections please just look at MO! -macavity

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