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 (6813)	2/27/2001 11:42:10 AM
From: Shack	Read Replies (1) of 19219

Hi JT, once again let me thank you for all your hard work with Rydex. Especially given the erroneous data which has been coming from those folks. I'm sure they know you by name there. I am just getting into Elliot. Frost-Prechter Elliot Wave Principle" seems to be the book of choice among folks who's opinion I respect. I'm like you and have been working off of sentiment and support/resistance, and other technical indicators as well. I combine this with fundamentals and macro economic conditions, particularly money supply and mutual fund inflows. You are slightly more of a short-term trader than me though. We had some interesting breakdowns lately which do not bode well for the markets, specifically the NYA and BKX. We are in bounce mode right now but given low put/call ratios and Rydex ratios, it would appear that their ain't gonna be enough juice to move up much more. The only two major indices which are still in bull mode are the BTK and RLX (and of course the XAU). Cheers Shack I don't know where the bottom is but I do know what one looks like, and I haven't seen it yet.

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