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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: J.T. who wrote (112)	6/16/1999 2:01:00 AM
From: Bart	Read Replies (1) \| Respond to of 19219

Good memory JT-That LGND had to be 2-3 years ago...Thanks for the advise. FWIW,briefing .com expects .1 on the cpi# tomorrow...hope they are right!

To: J.T. who wrote (112)	6/16/1999 12:19:00 PM
From: J.T.	Read Replies (1) \| Respond to of 19219

CPI core shows up benign and market rocks. Here is MITA 111 post and if CPI core was .01% or less: <.... Tomorrow is line of demarcation day for bulls and bears. If the CPI core rate is .01% or less the market will rally hard if there is no whiff of inflation to report. Break-out to 10,750 - 10,800 in the cards before basing out and retesting these numbers that same day and potentially getting thru these levels.....> And what happened goes true to form. Market opens up at intraday high of 10,748 right at 10,750. We get our pullback to 10,720 level, base out ... and now we rock higher at 10,775. Best, J.T.

To: J.T. who wrote (112)	6/17/1999 1:29:00 AM
From: J.T.	Respond to of 19219

MITA Post 112 cut below was dead on the money as we closed at 10,785. We were in this zone 10,750 to 10,800 most of the day. <Tomorrow is line of demarcation day for bulls and bears. If the CPI core rate is .01% or less the market will rally hard if there is no whiff of inflation to report. Break-out to 10,750 - 10,800 in the cards before basing out and retesting these numbers that same day and potentially getting thru these levels. If core rate is .03% or higher we will sell off hard.> VIX WAS IN A BLOODBATH TODAY DOWN ABOUT 18%. THIS IS CANON FODDER FOR BULLS TO NEW HIGHS. VIX ran short of resistance 28.70 buzz-saw that I posted way back on June 10 in MITA post 92. We got up to 28.28 yesterday and she sharply reversed. < VIX INDEX is popping up much higher this morning. This index is an early indicator of market trend changes. We have established two day support at 23.45 and 23.47 June 4 and June 7. Two day close below this level and market reverses back up. Resistance is at 28.70. TWO CLOSES ABOVE 29.66 AND THIS CORRECTION ACCELERATES DRAMATICALLY. > Now take note: notice VIX closed today at 23.21 below critical support. One more below support reinforces bull run assault to new highs. Best, J.T.