MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: marginmike who wrote (16354)	2/24/2003 3:19:06 PM
From: J.T.	Read Replies (2) of 19219

At the very least, it presents a warning sign no doubt. In that 4 week period of selling in August, 2001, the net balance index hit roughly 450 million shares sold. However, in this 2001 period the NYSE Members in all 4 weeks were HIGHER NET SELLERS than the Public and the Specialists were HIGHER NET SELLERS in 2 out of those 4 weeks. Today, in the last 3 weeks the net balance index has had roughly 183 million shares sold. More importantly, the Public has had greater net selling in ALL 3 Weeks in 2003 over the NYSE Members and Specialists. Nonetheless, caution is warranted. I wouldn't be surprised to see the SPX break below SPX 800 (Now at SPX 834) one last time to set up another major buying opportunity if volume swells permeating exhaustive capitulation.

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