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

To: J.T. who wrote (3488)	6/9/2000 6:45:00 PM
From: 2ripley2	Read Replies (1) \| Respond to of 19219

Thanks JT, for the clear response and additional info about UTIL in conjunction with it. I'm just a simple top/bottom trendline chart follower playing the range within. Appreciate your thread and your willingness to share your expertise by answering everyone's questions. Learning a lot about the importance of watching indexes now for clues to market direction, instead of just watching a chart on individual stocks & being surprised when my picks get hammered by unexpected market turns (at least unexpected by me), when there is no fundamental change in my stock picks. Did that make sense? Without overwhelming me, are there any other indices that you consider equally important to watch than the ones I'm currently watching: NDX, COMP, BKX, SPX + now UTIL? I've been considering Indigo or TS2000 software for timing signals and better chart analysis, but they're awfully expensive. Do you use any such software? Thanks as always, 2rip

To: J.T. who wrote (3488)	6/13/2000 2:21:00 PM
From: J.T.	Respond to of 19219

I have been watching BKX 820 support like a hawk since my post last Friday. BKX 820 has been pierced twice but has held. Now at BKX 824. UTIL had one close below critical UTIL 318 and now we are at UTIL 332. DOW pierced below DOW 10,500 and now we are 100 points higher. NDX tested my magic NDX 3,580 one last time at NDX 3,582 and now at NDX 3,677. Major supports have held. Time for NDX to go assault NDX 4,150 as noted in archives. I have milked XAU for all it is worth. Intraday high was XAU 62.62 and it could not break old intraday high 63.28. Gold which hit a 2 month intraday high was assulted by the big houses and is now down 1.50. XAU still holding nominal gains. I will go long NDX at tonights close. Part 2 of this anticipated summer rally is about to commence. Market has discounted back to back negative retail sales number and market is already is now looking past rate hike in June. A 25 point hike in June or August and we are done as I have repeatedly discussed in archives. It was put up or shut up day for BULLS and market is getting ready to rumble. Best Regards, J.T.