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

To: sa-mule who wrote (3821)	7/14/2000 3:53:04 PM
From: J.T.	Respond to of 19219

sam, not really. Benign PPI #'s got the market all lathered up but bond market is looking at huge upward revision in May retail sales. No question NDX and IIX and tech et all had more upside room as I mentioned in the 5 day RSI area. The momentum was able to feed on itself once PPI was inline. NDX RSI is now overbought 75 and IIX 5 day RSI now extreme overbought 80. We will find out if this is one day false break in NDX closing above 4,000 and SPX closing above 1,500 or not. A second close above thes important levels on Monday confirms the break-out. Don't forget we have CPI numbers on Tuesday a.m. and MSFT reports after the bell that same day. Windows 2000 sales are in question. Best Regards, J.T.