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

To: Blue On Black who wrote (3615)	6/28/2000 11:42:00 AM
From: J.T.	Respond to of 19219

Lee, I see UTIL is at the low of the day now at UTIL 309.83 and it is all but assured we will have that second close below UTIL 318 and possibly UTIL 315. This is a bad omen for the DOW and SPX. BKX now at BKX 783.53 and at highs of day. BKX was above 780 all day yesterday and closed below this resistance. If it has repeat performance today and again finishes below 780 it will be another nail in the coffin. If BKX 780 fails today- it would be 9th day in a row, I believe we will go visit death row support at BKX 737 noted in archives in the next few days. Market is again gaining strength as we approach FOMC announcement today at 2.15 est. IIX moving higher now at IIX 485 +. Will this rally gain momentum or falter after the no rate hike increase remains to be seen. History and seasonality is on the side of Bulls as window dressing and end of quarter patchwork plus 4th of July is Bullish. If today broad market fails it is warning across the bow. Best Regards, J.T.