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 (10454)	2/15/2002 3:35:16 PM
From: J. P.	Read Replies (1) of 19219

Basically, IMO this chart says it all: stockcharts.com[m,a]daclyyay[df][pb50!b200][vc60][iUi14,3!Lh14,3]&pref=G The trend is down and there are lots of eager sellers from higher prices dying to get out at the rallies. Eventually I think the line will flatten out and the OEX will be able to attack the 200 dma again. I'm a little surprised the market was taken down this much on an expiration day. I'm not really a bear, just looking at the evidence. I'd be bullish if we had a period of consolidation, then start seeing higher highs and higher lows. I also think we'll see a valuation shakeout at 2nd quarter earnings start disappointing again (I'm in technology, and business sucks) and "schemes, strategies?" like IBM which depend on a rising stock price start to unravel. Maybe I am a bear...

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