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

To: J.T. who wrote (1203)	11/4/1999 4:29:00 PM
From: J.T.	Read Replies (1) \| Respond to of 19219

Nice bounce off the lows for the broad market. BKX closed up 12.62 at BKX 874.38 and this is the second close below BKX 875 critical support I have posted. Inconclusive. The jury is still out and I will remain flexible as I did at BKX 795 where I said two closes above BKX 795 and go long. It proved quite fruitful. NDX closed up + 30.55 at another new all time high at this NDX 2,703.22. I am watching this NDX 2,660 support level which has held thus far. First close below NDX 2,660 with confirmation from other indices and it may signal a TOP in the NDX. DOW closed up +30 at DOW 10,639.57 and still below resistance of this DOW 10,650 level. DOW had an opportunity to go test DOW 10,790 higher resistance level with surging futures pre-open this morning but it was not even close as we finished hit DOW 10,711 intraday high. One close below DOW 10,580 with one closing confirmation from NDX below NDX 2,660 and BKX below BKX 861 and it will signal the hard turn down has commenced. Best Regards, J.T.