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

To: J.T. who wrote (4003)	7/28/2000 11:41:11 AM
From: J.T.	Read Replies (2) \| Respond to of 19219

DOW is now down 67 to DOW 10,518. A break of DOW 10,336 would accelerate the selling this afternoon and carryover into Monday (as late as Tuesday if it gets ugly)before some potential sort of bounce. If it can hold b/w DOW 10,336 and DOW 10,200 IT IS NO MANS LAND. The DOW DIAMOND TOP is very much in play here with a break of 10,336. A break of DOW 10,200 almost all but assures a collapse so this death zone support 10,200 is the last straw. Those who follow MITA know I have mentioned in a diamond formation break we could head down to DOW 7,800 to 8,000 in a worst case scenario before a significant bounce. I may not be able to post until after the bell sometime this weekend as I am heading out of town. For Rysdex, switch 100% from XAU Precious Metals to 100% Money Market at tonights close. XAU is one of the few bright spots right now up 43 cents (+ .85%) to XAU 51.25. SPX at 1,432 down 17 NDX at NDX 3,566 down 115. IIX at IIX 478.60 down 15. BKX at BKX 793 and holding down 10. SOX + 21 at SOX 971 and is one pocket of strength. The market is in oversold territory so if we can hold in here we may in fact get a bounce this afternoon. But no guarantees in market of uncertainty. Best Regards, J.T.