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 (11206)	3/16/2002 12:45:42 PM
From: Killswitch	Read Replies (1) of 19219

One other thought... looking at the charts (for instance the SPX) it looks like it may be forming a pretty well defined uptrend channel. The NDX and DJIA look the same. Also the SPX has a candle pattern over the past 3 days that looks very bottom-like. So if it does continue going back up without a retest of the 1140 area, you might want to buy back in, and think about recalibrating your intuitions regarding what levels in the SPX funds are truly bearish... looking back at the ratio data I have, even on the SPX data we are still above the areas where the market would top out in bull markets. In other words this could be like the VIX thing- we may be reverting back to levels that are more associated with bull markets... and failure to recognize that could cost you some significant upside.

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