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

To: Flapdoodl who wrote (2773)	5/3/2000 1:49:00 PM
From: J.T.	Read Replies (2) \| Respond to of 19219

Flapdoodl, I think BKX reversal from highs 788 and now well below line of demarcation BKX 780 resistance in archives here at 772 needs to be monitored very closely into the last hour before bell- a close below BKX 760 support (unlikely)is bad omen. Still rangebound until tomorrow. At the crossroads again... On a microanalysis, MER 102 1/2 down 1 point is holding its own (right on its 50 day MA 102 5/8) and if this stock closes below MER 101 (9 day EMA)- a second close below 101 tomorrow spells trouble for broad market and DOW intraday test and penetration of 10,200 minimum before potential bounce. A close above MER 102 5/8 is BULLISH and would set up for another potential bounce tomorrow in spite of doom and gloom now prevailing. Best Regards, J.T.