MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: Softechie who wrote (9389)	11/8/2001 11:32:32 PM
From: J.T.	Read Replies (2) of 19219

Not necessary. I think a partial fill of that first gap is all that is needed - COMP 1,745 - 1,768. It doesn't have to come back and fill that other lower gap until after another advance to higher highs ala COMP 2,000... Then, after the market gets all hot and bothered long and some of these short funds show some levels of capitulation can we have another hard down to go back and fill the lower gap... And if by chance the COMP is in nothing but a large contracting triangle in a bigger picture... then it is possible that we could have a series of breakaway unfilled gaps as we move higher... this is not a theory I subscribe to at present time but nonetheless one should always leave open the remote possibility of its occurrence. Best Regards, J.T.

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