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

To: J.T. who wrote (1478)	11/24/1999 1:56:00 AM
From: J.T.	Respond to of 19219

BKX closed below BKX 848 support at BKX 847.11. Intraday low touched its 200 day MA of BKX 844.35 and she smartly bounced up off this level. This is the fifth day in a row BKX has been down. We are due for at least a bounce here which should take us to this BKX 852 resistance. A break above BKX 852.50 will take us immediately to BKX 860 test. Higher resistance is BKX 872 - its 10 day MA - an optimistic level right now. Nevertheless, we need to keep watch for further deterioration and a second close below BKX 848 with UTIL closing below UTIL 280 and Bond yields backing up toward 6.25% I will not take lightly. It will mark the shortest stint ever that I have turned Bullish. I do not want to get caught in a further whipsaw like today. Best Regards, J.T.