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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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From: Larry Livingston12/7/2004 1:48:24 PM
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An interesting dynamic going on. Market still riding the razors edge of a weakening currency. It benefits to the extent foreign earnings are worth more and the potential for higher exports.

And yet to the extent the agencies and treasuries compensate with higher interest rates the market will be hurt, and the economy if the consumer's mortgage carry gets too high. It all depends on asian governments willingness to buy our debt.

Short term money flows look good particularly if all that microsoft money comes back in. The strength of the market is shown by the shallowness of any pullbacks so far.

In the short run my breadth indicators are confirming to downside. It will be interesting to see if the seasonal patterns and all that money flow can hold the range. So far so good.
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