MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who wrote (14)	6/3/1999 9:30:00 AM
From: J.T.	Read Replies (2) of 19219

MARKET COMMENTARY pre-open 6/3/99 Market to open smartly higher as "peace settlement " draws near and positive market action into close carries into this morning. Look for DOW to initally run to 10,640 and potentially run all the way to 10,750-10,770 area before serious resistance will be first litmus test as to the quality and seriousness of this rally. Need two closes above 10,750 for me to believe the bull is back on track. Expect SPX to retest upside above 1,315 to 1,320 area before similar resistance develops. Those looking to short the market should have opportunity into this rally. I will be looking to buy puts into strength of this market. Bonds up 3 ticks to 5.93%. OUT. J.T.

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