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

To: J.T. who wrote (706)	9/28/1999 11:33:00 AM
From: J.T.	Respond to of 19219

Market now sliding down that slippery slope. DOW right at 10,200 now after breaching below this level; maybe one more bounce, but this DOW 10,050 test is now in play later today, imho. SOX at 514 and will gravitate toward 509 mentioned last night. SOX 509 should get taken out today. The frog should never get cozy in warm water. It brings a feeling of warmth and false sense of security. Friday and Monday relieved some of the "oversold conditions" of the market and TRIN is still in "neutral ground". Now the break. Best Regards, J.T.

To: J.T. who wrote (706)	9/28/1999 11:23:00 PM
From: J.T.	Read Replies (1) \| Respond to of 19219

Smack on the money. It doesn't get any more clear-cut-- From last night MITA 706: ..<DOW 10,410 is now resistance and DOW 10,200 is support. DOW will now have this imminent test and take-out of DOW 10,200 as early as tomorrow but no later than the end of this week which will take us to this 10,050 dire support level>... ..<With the seasonal "quarterly window dress in play" later this week, 10,050 could be breached but nevertheless should find a short-term safety net of support as it becomes quite tricky where the DOW will find a bottom before that bounce comes back to play. More on this as it unfolds>... I have been sticking my neck out knowing full well the guillotine is ready to come down and cut me off and a small gallery would like me to be nothing more than wrong wrong wrong. I am backtesting to provide validity and clarity of statements and to create a daily flow and semblance of thoughts going forward to justify levels. I am not looking for bravado or bragging rights. Lord knows I have been wrong just the same. It simply helps me with cogent market analysis that I can then relate back with clientele. Tom Dorsey of Point and Figure explains this process as "getting religion".. Just believe in what you are doing and with conviction and go forward. It may not be the best, but if it works, run with it... Best Regards, J.T.