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

To: J.T. who wrote (2766)	5/3/2000 2:32:00 PM
From: J.T.	Read Replies (2) \| Respond to of 19219

For Microanalysis of yesterday's XAU break-out, one needs to validate the run as not a false rally. Look at ABX- Barrick Gold- the heaviest weighted stock in XAU 31%. ABX needs to close at 18 1/8 (now at 18 1/4 down 3/8) or higher to confirm the back to back close above the 200 day MA of 18.13. ABX has been down all day and is trying to gather strength into the bell. Even at 18 1/8 close and down 1/2 would be BULLISH close. Anything north of this divide makes the call that much easier. All the short term MA's are in break-out mode as 5 day ma is moving above its 13 MA and 50 day MA against a smoothed over 9 day EMA. BULLISH - It is the close that counts. Looking to potentially go 100% Long Rydex Precious Metals XAU at the close. Best Regards, J.T.