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

To: J.T. who wrote (1653)	12/1/1999 2:45:00 PM
From: J.T.	Respond to of 19219

At the peak BKX reached BKX 828.24 when the DOW hit intraday high up +119 to DOW 10,996. BKX barely moved higher. BKX has now broke my tight critical support of BKX 826 now at BKX 825.85 while DOW is still up 96 to DOW 10,9975. If BKX stays below BKX 826 the DOW will fade into the bell. This against NYSE new lows creaming new highs by 10 to 1 levels. 23 New highs 230 New Lows Best Regards, J.T.

To: J.T. who wrote (1653)	12/1/1999 4:43:00 PM
From: J.T.	Respond to of 19219

BKX was no help to the direction of the market today. We closed at BKX 826.64 down -1.35. Intraday high was BKX 831.4 while the low was BKX 820.6. UTIL closed down -1.57 to close at UTIL 279.96. The intraday high was 281.5 and the low was 279.2 We must be on guard that the low is in on BKX after this third test of BKX 818 floor. However, on the upside BKX 838 is the ceiling and we came nowhere near yesterdays intrady high. A narrowing wedge. DOW closed up 120 to DOW 10,998 and back in this trading range of 11,050 - 10,880. We have now had one false reading on the upside and one on the downside over the last and ten days in this band. I think Friday's employment report will tilt the scales one way or the other for market direction the rest of the year. Best Regards, J.T.