MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: SecularBull who wrote (7857)	5/24/2001 10:30:41 AM
From: J.T.	Read Replies (1) of 19219

Cycles have inverted and nobody has acknowledged it. We have a small cycle LOW due today +/- 1 day and a cycle HIGH due May 30 +/- 1 day. Sentiment numbers confirm it. I have said the DOW, if it is going to reach token new highs, it must do so in this small window of opportunity next week. Otherwise, the DOW will have to wait until November December of this year to hit new highs... if it is going to materialize. For the Bulls, it would be best if the DOW did not hit new highs next week as this new high would not be confirmed by any other major index, and hence, a HUGE NEGATIVE for the broad market. Best if the other indices, ala SPX, TRAN, UTIL (djua) COMP and NDX et al have an opportunity to play catch up to the DOW. Best Regards, J.T.

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