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

To: J.T. who wrote (1349)	11/17/1999 6:16:00 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 19219

J.T., i get the feeling in view of the tick (mostly negative) and trin (extremely low) readings during this rally that it was used for distribution in a major way. Franco on the MDA thread also pointed this out, and the major reversal in the XBD today may well be a danger sign too. note that the Rydex ratios sit at or near all time lows: decisionpoint.com decisionpoint.com the trin is out of this world: decisionpoint.com last but not least, a negative McOsi divergence: decisionpoint.com need i mention that a 1,6 billion share day on the Nasdaq that ends in the red is not particularly bullish either? nor are comments by analysts that they "can't see what could bring this market down with sentiment so red-hot" regards, hb

To: J.T. who wrote (1349)	11/17/1999 6:22:00 PM
From: pater tenebrarum	Respond to of 19219

J.T., in addition to my earlier post let me add that the growth of the broad money supply aggregate M3 since 20 September stands at an annualized 14,8% now. in addition to a massive bout of credit creation by the agencies, the Fed is feeding money into the system on a daily basis now, in the form of repos and coupon passes, needless to say concurrent with this blow-off rally. i suspect (but can't prove) that the securities industry is misusing the Y2K facilities created by the Fed to pump up the market to distribute it's inventory at the highest possible prices. just a hunch. regards, hb

To: J.T. who wrote (1349)	11/17/1999 6:31:00 PM
From: fut_trade	Read Replies (2) \| Respond to of 19219

SPX resistance and support levels for tomorrow. Resistance: 1426 Support: 1405 Support: 1374 fortunecity.com

To: J.T. who wrote (1349)	11/18/1999 10:22:00 PM
From: J.T.	Read Replies (1) \| Respond to of 19219

DOW rocketed again on wings of HWP and closed at DOW 11,035. This is the first close above DOW 11,000 since September 13th. This morning, after the HWP spike, I mentioned short term support of DOW 11,000 with resistance at DOW 11,080. A close above DOW 11,080 and strong BKX confirmation of BKX 900 close will get me to throw in the white rag to Go Long. Keep DOW 10,880 as lower support which must be held for bulls to maintain control. An intraday break of DOW 10,880 is bearish and a close below DOW 10,880 must be confirmed by close of BKX 861 for Bears to regain control. We should revisit this level as early as tomorrow - but no later than Wednesday of next week for this test of lower DOW - BKX support levels. Today DOW 10 day MA (DOW 10,761.50)crossed the 89 day MA (DOW 10,725) for the first time since September 13th. This is obviously bullish. We are now comfortably above DOW 50 day MA (DOW 10,548) and DOW 200 day MA (DOW 10,510). Best Regards, J.T.