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

To: J.T. who wrote (1194)	11/3/1999 3:14:00 PM
From: J.T.	Respond to of 19219

WE ARE DONE. SHORT. For Rydex accounts, I am short the S & P 500 Rydex NOVA Fund at tonights close. Best Regards, J.T.

To: J.T. who wrote (1194)	11/3/1999 4:23:00 PM
From: J.T.	Read Replies (1) \| Respond to of 19219

DOW closed at DOW 10,609 and above critical support of DOW 10,600. A hard sell-off in the last hour took it below this lower band of DOW 10,580 very briefly and she spiked back up. NDX closed at NDX 2,672 and above critical support of NDX 2,660. It needs a second close above NDX 2,660 tomorrow to confirm higher ground. My bet is that this does not happen and we turn back down. The jury is out whether NDX 2,672 will be a print high close for the record books for the NDX and the TOP is in or not. BKX closed at BKX 861.76 and near session lows. This index for me outweighs the other two above in calling short term change in market direction which could manifest into a much larger change in broad market direction. BKX closed decisively below BKX 866 support. I believe we are in the infant stages of this hard turn back down, and we are going to test previous lows in the DOW, SPX and NDX at the very minimum. OUT. Best Regards, J.T.

To: J.T. who wrote (1194)	11/9/1999 12:18:00 PM
From: J.T.	Read Replies (1) \| Respond to of 19219

MITA is not a cookie cutter class on S.I thread where an empty head is to be filled. It is about support and resistance levels that are posted and tested day in and day out. If you have belief we are headed higher, fine. I have no problem with that. Post your reason why and back it up. But if you cut and run with jabs you will be held accountable. Look at this post regarding DOW last Wednesday in MITA 1,194: ...<I am watching this DOW 10,580 to DOW 10,650 band level like a hawk. DOW is now at DOW 10,640. DOW needs to get thru DOW 10,650 on a close. A close below DOW 10,600 is a technical negative and if confirmed by the following the countertrend rally is over: 1)BKX needs to hold this BKX 866 level into the close. I will not wait for second close below this level. BKX is now at BKX 869. 2)NDX needs to close above NDX 2,660. If NDX closes below NDX 2,660, for me the TOP will be booked into the records for the NDX. NDX is now at NDX 2,682>... ------------------------------------------------------------------- DOW AND BKX ARE NOW BANGING ON THESE LOWER SUPPORT BANDS ESTABLISHED LAST WEEK. WE MAY BOUNCE OFF THESE LEVELS. LET SEE. MITA backs it up. BULLS were roaring in orgy yesterday after MSFT and broad market gets thru unscathed. I am lone BEAR poster and stick to this simple BKX and BKX does not fail. Best Regards, J.T.