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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who wrote (13822)7/26/2002 8:13:12 PM
From: High-Tech East  Read Replies (2) of 19219
 
... J.T. ...the only significant Larry Williams set-up I see from tonight's "futures" charts continues to be long the US Dollar Index ... but only upon a change in trend, which has not happened yet ... the Japanese Yen, Swiss Franc, British Pound and Canadian dollar ALL look moderately bearish ... and I do not have good data for the Euro (although it has come a long way in a short time) ...

... unfortunately, there are not any clear signals either way for the any of the indexed futures ... the SP, DJ and ND charts tell me little ...

... as far as the monthly charts for the SPX, DJIA, NYA, and COMPQ, all the head and shoulders necklines remain clearly broken, except for the DJIA which moved back above the neckline today ...

... it looks to me that IF equities are to rally next week, they will probably be led by a strongly advancing dollar ...

Ken Wilson
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