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

To: J.T. who wrote (3977)	7/27/2000 8:23:15 AM
From: sa-mule	Read Replies (1) \| Respond to of 19219

thanks!! sam

To: J.T. who wrote (3977)	7/27/2000 8:35:57 AM
From: Casaubon	Read Replies (1) \| Respond to of 19219

This is really helpful stuff! Thanks so much. I decided not to front run the possible reversal (except with a small amount of money in DRAM which, although I got a decent entry price @ $40 1/4, gave me nasty butterflies in my stomach <ggg> If the market reverses today, I will be a trend follower and throw a bunch of money at it.

To: J.T. who wrote (3977)	7/28/2000 10:24:13 AM
From: J.T.	Read Replies (1) \| Respond to of 19219

This market is in serious technical trouble right now. IIX 484 down 10 and BKX at 794 down 9 and NDX 3,616 down 64 are breaking and masking major underlying weakness. This market is a house of cards... We need a bounce or else... Please look closely at BKX and IIX and NDX supports posted in archives: ...<What does this small shread of evidence mean? We are within 2-3 days before a near term bottom and another smart rally is just around the corner if:: 1) IIX does not have 2 closes below its 25 and 200 day MA (IIX 507-510). IIX closed at IIX 515. 2) DOW does not have 2 closes below DOW 10,605 with the second close below 10,336. One close below DOW 10,336 and all bets are off for any rally and this pre-requisite supercedes all other conditions. DOW closed at DOW 10,684.77 3)BKX has 2 closes below BKX 800 (50 day MA) with the second close below BKX 782 (25 day MA). BKX closed at BKX 819.68. 4)UTIL has 2 closes below UTIL 322 (25 day MA). UTIL closed at UTIL 328.66. 5) NDX breaks 50 day MA NDX 3,660 with a close below NDX 3,620 on 1 close (3,620 gives us elasticity below the stops getting run out on a close below the 50 day MA).Also above critical support NDX 3,580. We closed at NDX 3,790.62. In short, the market is looking to put in a bottom most likely in the next two days. And unless the DOW diamond top comes into play and we begin a capitulation process below DOW 10,336 along with other above support parameters breaking - WE ARE GOING TO RALLY HARD INTO THE END OF JULY.>... While the DOW is hanging by a thread up 6 at 10,592 other 3 indices show major selling distribution. Best Regards, J.T.