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	3/2/2001 8:38:37 AM
From: macavity	Read Replies (2) of 19219

Do or die (Again). Missed the close but it looks like some serious short covering to me. I have no position apart from a small handful of gold shares. New Economy: There is some funny intra-tech rotations going on. SOX was spooked back up bouncing off its lows, but my tell is SMH>48/49 to tell me to come out of this bunker. INTC and SMH yesterday re-tested the trendline from Q4 2000, so that is some sort of positive. Telcos do not look good and I am getting 21D stochastics rolling in AMGN and BGEN - (they led the bios up looks like they could lead them down.) Out of biotech and into semis? TRAN broke down below 2930 and I do not fancy anything in the old economy. CYC seems to be doing the same. In short OEX needs to be above 655/660 and all these levels need to hold to get me bullish (and then some). There are some real strong bullish divergences out there but it takes more to convince me. Good luck all. - macavity.

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