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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who wrote (9296)11/2/2001 2:17:09 PM
From: J.T.  Read Replies (2) of 19219
 
Rydex. Switch 100% from NDX Long VELOCITY to NDX Short VENTURE at tonights close. Switch 100% from SPX Long NOVA to XAU Precious Metals at tonights close.

XAU is already above overbought on 5 day RSI but I believe we acn move to triple overbought on 5 day RSI . I am taking a very uncomfortable position here (5 day RSI-wise) and could get whipsawed if da judge thows out GATA case without merit on Monday.

XAU technicals are Bullish and all gold JSE Index confirms it.

Cycle high 1 day carryover ends with todays close.

Have a great weekend everybody.

Best Regards, J.T.
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