MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: LaVerne E. Olney who wrote (5953)	1/11/2001 12:06:02 AM
From: J.T.	Read Replies (1) of 19219

Leo, Your post here is poetry in motion and suggests by all historical measures we should be at/near a bottom. Granted NDX/COMP and SPX have bounced for the last few days and relieves oversold positions - but these are nothing more than guerrilla type rallies. Sentiment seems to carry more weight these days and rydex daily update is as dynamic a reading as you will ever get. I think we are going to get a thourough wash-out once and for all to clear the deck and get these sentiment readings in line with your historical extremes... It was only one week ago today after Mr. G. cut fed funds 50 basis points and .25 basis point cuts back to back in the discount rate and the market screamed higher that I thought we had this chance for token new highs on the DOW over the next 4-6 weeks... These rydex numbers suggest otherwise. Best Regards, J.T.

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