MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: Hawk who wrote (18819)	3/31/2005 4:12:38 AM
From: J.T.	Read Replies (3) of 19219

From that end of January call off the bottom, the DOW, SPX, UTIL and TRAN went on to hit either 52 week or all time highs. Now, in order to get max pain for the next leg up, the market must be definition whipsaw out and create the most doubt possible before the advance can resume. The market has accomplished this. My lead sled dog index is always SPX first, DOW second and Nasdaq NDX and COMP last. Closer sleuthing of the evidence reveals that the January 24th bottom close on both SPX and DOW have not been violated. Nasdaq is the HOOK to KEEP MOST OUT with lower lows end of March vs. January low close. Stick with your beginning of year Bullish prognostication lest you also be whipsawed out like the masses. Clearly, the DOW Theory Buy Signal has not been negated. ~ JT

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