MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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From: Larry Livingston	10/27/2004 11:40:58 AM
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Nice move. Big increase in oil inventories crushed oil. I think they loaned some more oil from the strategic oil reserve. Nice move in the markets confirmed by breadth. However judging from the speed of the move i would have say some shorts got squeezed. That was the let's make sure Bush gets reelected rally. Looks good if base at 1100 holds and the ammo is there to keep it going. $ is still precarious but as long as decline is gradual should be bullish for market, so it's only a short term worry. Glad to see some bulls with conviction on this board.

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