MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: J.T. who wrote (18558)	8/28/2004 12:20:43 PM
From: Kirk ©	Read Replies (1) of 19219

"The stock market is now in the early stages of significant upside advance which will carry over into early spring of 2006" Congratulations on your Barron's quote! As I wrote in da cheif's forum... "My hunch is a major top will come when bears capitulate and we get 90% sentiment levels on this chart" Chart: home.netcom.com Right now I think the data supports a Major Bottom is in. If you look at that chart, you can see sentiment movement and bottoms looked quite similar to the 2002 bottom and March 2003 test. The past year has been much like the market making a high in late 2002 after "the October bottom" then testing that low in March of 2003. I think we need the NASDAQ to get through the blue resistance line on this chart stockcharts.com[l,a]dacayyay[d20020101,20041231][df][pa1890!b200!f][vc60][iUb21!Lc20]&pref=G to return it to support rather than resistance. RSI, CMF and sentiment are correctly alligned to help cut through that resistance like a knife through hot butter... but it has to do it first. My guess is it will do this when Bush gets a kick from the convention and oil crashes through its $42.50 red resistance level here stockcharts.com[l,a]daclyyay[d19980601,20061231][pa25!a42.5!f][vc60]&pref=G next week. It looks like the SPX has already gone through resistance stockcharts.com[l,a]dacayyay[d20030901,20041231][pb50!a1080!f][vc60]&r=4994 so I think we are on our way and need the Nasdaq to confirm. Kirk

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next