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

To: fut_trade who wrote (1485)	11/24/1999 1:43:00 AM
From: J.T.	Read Replies (2) \| Respond to of 19219

Peter, #1 on the SPX list is MSFT. Once MSFT couldn't hold its early gain, the rest of the market couldn't mount any sustainable intraday recovery and we soon faded downward into the bell. MSFT has now had two days above its 200 day MA which is 86.54. I would like to see MSFT lock in two closes above its 50 day MA of 91.11. We were briefly above this level intraday. I have previously mentioned in MITA 1,387 existing overhead supply at 90 1/2 to 92 level. A close above 92 will signify break-out. MSFT needs to reassert itself as a leader for this next leg, if it is to materialize. A failure to break-out here, and turn back down to MSFT 84 1/2 support will dictate further broad market correction. Best Regards, J.T.