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

To: Teresa Lo who wrote (239)	7/1/1999 9:28:00 AM
From: Teresa Lo	Respond to of 19219

Market SnapShot for Thursday, July 01, 1999 As expected, the Federal Open Market Committee raised interest rates by a quarter point yesterday with a surprise twist to adopt a neutral bias. The market immediately traded higher, with bonds rallying hard to break resistance at the 20-period exponential moving average overhead. The September T bond is now set to test resistance at 116^08. The market is at a critical juncture here as large position traders are watching for signs of breakout or failure. Most of the popular moving averages are in a test of top position. The NASDAQ 100 made a new all time high. The S&P 500 is in position to test its all-time high as is the Dow Industrials. The CBOE Internet Index is testing the neckline of a reverse head and shoulders bottom. Any failure to breakout decisively will bring sellers. Charts specific to these comments have been posted to intelligentspeculator.com