Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Matthew L. Jones who wrote (1781)	12/8/1999 2:17:00 AM
From: J.T.	Read Replies (1) \| Respond to of 19219

Matt, Thanks for the read. I would like your in depth read on BKX if you can take the time. I like the the COMP moonshot chart. Best Regards, J.T.

To: Matthew L. Jones who wrote (1781)	12/8/1999 3:03:00 AM
From: J.T.	Respond to of 19219

Matt, Regarding Correlation to your S & P Futures reading to DOW: ...<Actually, looking at a 30 minute chart of the S&P futures, the last time the ESZ9 had an oversold period nearly as long was October 14-15 and again 18-21. Today (as of the close) the stochastic oversold period is longer than either time (both right prior to bottom)>... The DOW pulled the same stunt and is oversold. Hourly RSI is down below 11 - an extreme reading similar to your timeframe on S & P futures. But if the NDX and Tech pulls back dead ahead, at the very least, I think this gravitational pull we can witness a minimum test to DOW 10,880 support lows. -------------------------------------- As for this: ...<Of additional interest is the high market volatility the last half of the day. The violent swings in the S&P futures market is indicative of an intermediate market bottom.>... Again, astute observation. BKX pulled the same gig. Tomorrow we are going to see if this BKX pulled a one day false reading below BKX 795 just like it did on the upside BKX 848 resistance MITA called for that needed to be taken out for Bullish case Friday only to wash away like sand on the shore.. This post, Friday morning as the rally was just underway holds true to form: Message 12177007 Last Wednesday, we mentioned lower supports in MITA 1,641: ...<Support for now is BKX 818 which is above the 50 day MA of BKX 810.70 and rising. 89 day MA is BKX 811. So it is obvious a break of BKX 810 will take us to the mother of demarcation of support at BKX 795 where it really all started post de facto Glass-Steagal termination Act>... ------------------------------------------------ Day two close tomorrow BELOW life-support will certainly lead to this same MITA 1,641: ...<A break of BKX 795 will most assuredly already have a correction well underway>... Best Regards, J.T.