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 (7390)	3/23/2001 11:08:30 AM
From: J.T.	Read Replies (3) of 19219

This from MITA 7390: Q: every level you said was critical has broken, why would you go long? A: I am looking for a hard counter-trend bounce into the end of the month and NDX is going to lead the way. ******************* The levels that I was putting up was SPX, BKX and DOW. I did not put up NDX, COMP et al.. ***************** I followed up in MITA 7404: To:J.T. who wrote (7376) From: J.T. Thursday, Mar 22, 2001 9:54 AM View Replies (1) \| Respond to 7404 of 7436 ...<Technology lead this market on the way down and yesterday when they hit the last ones DOW and SPX and BKX you know we are late in the game and ready for respite and smart bounce. Tech will lead it back up for a live cat bounce for a week or so and hence the switch from Rydex SPX Long to NDX Long. Notice SPX/DOW proxy BKX is below death BKX 780 at BKX 774 down 1.9% and reason why dow and spx is down...All the while NDX proxy SOX is up big up 30+ to SOX 588 up 5.46% and NDX up 24 up 1.5% to NDX 1629 Bifurcation at its finest>..... ******************************** We nailed the bottom in this counter-trend bounce on NDX going in at the low on NDX as SOX and NDX lead the way.. And the ones they hit late in the game SPX, DOW and BKX close lower. Now we see NDX and tech leading all the indices UP^^^^^^^^^^^ And in fact, Today will be the first Friday that all 4 indices DOW, SPX and NDX and COMP will close UP since Friday December 22nd...** Now MITA is as quiet as ever... They pound me when I'm wrong and disappear when I call it dead on... The way this is going today... Dynamic Series I could be back in black before at the close since inception in investing in rydex dynamic series if I decide to book profits.. Best Regards, J.T.

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