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

To: J.T. who wrote (4037)	8/2/2000 2:41:06 AM
From: LaVerne E. Olney	Read Replies (3) \| Respond to of 19219

JT: It's a position trade which I'll hold until stochastics signal me out. I will continue to add to the position if downtrend continues, but NAZ is quite oversold. Along with the index volume, my short-term momentum indicators for the NAZ all turned green on Thursday which has been a pretty reliable signal for a bottom. (previous signals 10/27/97 12/15/97 8/4/98 8/27/98 10/7/98 4/13/00) The StochRSI signals for both the indices and the Stock group are also showing extreme oversold pressure. John Bollinger on CNBC yesterday afternoon was talking about a similiar signal that he has started using, which gave buy signals on 4/17/00 and 7/31/00. The overall market bias is still a "hold" based primarily on neutral sentiment indicators and negative McClellan oscillators/summations and high-low charts. leo users.chartertn.net