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: y2kate who wrote (3543)	6/16/2000 1:30:00 AM
From: Lee Lichterman III	Respond to of 19219

It depends on your interpretation of the pattern. It could be a rectangle which usually resolves in the direction of the initial trend or else it is a flag. I initially thought of it as bullish and the chart still does seem to be bullish but my cycle work is showing little price appreciation in relation to the cycle movement which means it is weak. That taken with the high bull count on RYDEX ratios, the low VIX and the bullish leaning in the put/call ratio and we could be setting up for an ugly surprise. My view for the last two days is that we are nearing the end of a rally that will fail and then we will get a nasty correction within 2 weeks, probably late next week. This is a very very tough market to call right now though so I may be full of it. <ggg> All I know is I don't hold positions for more than a day recently. <ng> Good Luck, Lee