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

To: J.T. who wrote (663)	9/22/1999 11:52:00 AM
From: J.T.	Read Replies (1) \| Respond to of 19219

DOW and SPX leading the way down as mentioned yesterday (below) as we temporarily can not hold DOW 10,550 and SPX 1,300. The bounce is now in play. SPX low for now is this 1,297. A break thru 1,294 correlates to DOW 10,470 and this would intensify the selling and the mass exodus to the theatre exits. ...DOW and SPX have been in this confined trading range and will lead the next leg down of the break. No volume, overhead supply and no legs in any of the latest rallies. No gas left in the tank. Finally, techs almost always are the last to fall in a bull market. Techs being the latest information age stocks within SOX, DOT, IIX and NDX.>.. NDX and SOX attempting to firm. NDX 2,450 critical support is equivalent of 10,470 and 1,294. NUTS still strong and will be last to unwind in any heated selling. Best Regards, J.T.

To: J.T. who wrote (663)	9/23/1999 6:00:00 PM
From: J.T.	Read Replies (5) \| Respond to of 19219

UPDATE OF THE 9 CRITICAL SUPPORTS FROM SEPTEMBER 3rd: The kamikaze bulls don't want to listen b/c I just bring noise to S.I like the gong show. The market has been screaming warning for some time now. And while it can be said that I have cried wolf before, it is the only period thru the end of September that I have ever called for a crash on the thread. This ain't no joke folks. Air pockets will rear their ugly heads if not tomorrow then next week. These 9 supports seemed insurmountable to penetrate below supports in light of the fact that we have had two of the biggest one day monster up days in the market since September 3rd. In spite of this, 5 of the 9 supports are toast as the DOW THEORY has just kicked in. This is shades of '29 and '68 big time. These are the critical supports I have posted on September 3rd (MITA 652): 1)DOW 10,550 XXXXXXXXX TOAST XXXXXXXXX 2)UTIL 307 XXXXXXXXX TOAST XXXXXXXXX 3)TRAN 3,012 XXXXXXXXX TOAST XXXXXXXXX 4)BKX 765 XXXXXXXXX TOAST XXXXXXXXX 5)SPX 1,294 XXXXXXXXX TOAST XXXXXXXXX 6)RUT 412 #3 IN BATTERY 7)NDX 2,328 #2 ON DECK 8)SOX 509 #1 AT THE PLATE FOR S.O. 9)IIX 273 #4 and last in dug-out Wake up folks. This mirage is nothing but smoke and mirrors in the face of the decaying breadth statistics that permeate a sick cancerous market. Cumulative negative breadth statistics have now reached lows not seen since September 24 1996-- A THREE YEAR LOW WHEN THE DOW WAS AT 5,874 AND THE SPX AT 685. Best Regards, J.T.