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

To: LBstocks who wrote (2938)	5/15/2000 9:34:00 PM
From: J.T.	Read Replies (2) \| Respond to of 19219

LB, I think when I wrote that post NDX was at 3,460 and as you recall on Friday we turned back down at NDX 3,500 and faded down a greasy slope into the bell. We closed today at NDX 3,512: ..<To: LBstocks who wrote (2932) From: J.T. Monday, May 15, 2000 3:09 PM ET Reply # of 2941 LB, BKX is screaming break-out.Look at MER our market barometer up huge. I would like to see NDX take out NDX 3,500 into the bell>... The interesting thing about these last two trading days on the NDX is that we really had 2 intraday correctioons within both higher closes. The NDX has now closed up 4 days in a row and it doesn't feel like it. Friday we corrected and finished well off the highs and today NDX was in the tank all day and rallied hard into the bell. Now I think shorts can really take it on the chin tomorrow with in line CPI core at 0.2 % or less and .50 basis rate hike. I do not like market set-up if Mr.G is stupid enough to go another .25 hike After tomorrow we can get this potential pullback 1 to 2 days and then the launch starts next week prior to Memorial day week-end holiday. I notice the DOW and BKX are now both above their 50 and 200 day MA's. Bears in big trouble if we close solidly higher tomorrow. Best Regards, J.T.