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

To: J.T. who wrote (3597)	6/27/2000 1:24:00 PM
From: Joseph Stratmann	Read Replies (2) \| Respond to of 19219

I typically just watch this thread, with great interest I might add, yet hesistant to add my 2cents as I consider myself such a neophyte. Yet, I'll take the plunge as Im interested in getting some feedback. Looking at the Nasdaq Composite I've been watching what I think to be a support level at about 3892. On 6/8, 6/9 and 6/12 our highs bounced off this, what was then, resistance level. We've since broke through it smartly on 6/19 and today have had two intraday bounces off 3892. Now as I glance at the COMPX again I see it may retest it so I hope I dont look "dumb" with this post :) Okay, make that break the line (3890 now). ugh I was also wondering if anyone had thoughts on PHCM. Phone.com has had a recent slide of late and I cant find any news that would point to this. What concerns me even more, and maybe someone could put my mind at ease on this, is that the last 3 days of down volume have been increasing. I was thinking this could be written off to the fact that the Fed's meeting is to be announced tomorrow. Lastly, I have been toying with a pure mechanical model of trading the S&P 500. The model has had an accuracy rate of 75% year to date with a profit of some 50% (have to look at the exact number). It had just gone long Yesterday. Again, this is just something Im toying with but thought maybe someone might be interested. -Joe