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 (8344)	8/17/2001 9:40:32 AM
From: J.T.	Read Replies (2) of 19219

Dell has smashed below its 200 day MA now at 23.86. If market accelerates downward, DELL still has 2 open gaps that could possibly get filled. One at 23.41 - 23.73 and the other at 22.18 - 22.65 from April 4 low to June 20 intraday low. At this point, the sooner the first gap gets at least partially filled the better off we will be going forward. Ideally, you fill both those gaps and the technicians will be most happy. If and until those gaps remained unfilled, these two gaps are treated as breakaway gaps. SPX needs to hold SPX 1165 this morning intraday to stop the bleeding and more importantly hold this level which is the April 11 close. The low is SPX 1169. We bounce here and the Bears will have missed another golden opportunity for a knockout punch. Best Regards, J.T.

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