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

To: bobby beara who wrote (4087)	8/4/2000 7:09:44 PM
From: Wyätt Gwyön	Respond to of 19219

From briefing> Chart Watch : The Nasdaq put together a rather impressive performance on Thursday as it rose like Phoenix out of the ashes. It is important, however, not to get emotionally caught up in dramatic moves like the 230 point intraday reversal and to try to keep things in perspective. Clearly the advance is encouraging but given that the Nasdaq had plunged 798 points or 18% on an intraday basis in 2 1/2 weeks, it was due for a sizeable bounce. Also, the index has thus far merely staged a typical percentage retracement and retested the middle of the trading range that dominated activity throughout the month of June. For the near term, the aggressive nature of the advance and the bullish daily indicators (some have formed divergences) suggest that additional gains could be seen after a period of consolidation. Supports are at 3725 and near 3700/3690. If this limited pull back scenario pans out, the index will be positioned to challenge barriers of more significance between 3875 and 3900. Continued follow through beyond resistance at 4000 is needed to suggest that the July plunge, while damaging, was a temporarily development. A group of importance during the slide was the semiconductors and a reversal here would significantly bolster the bullish case. Unfortunately, the SOX index is in a more precarious position as it failed to hold the morning gains and has again broken below its 200 day moving average (941). A penetration of Thursday's low (880) and the April low (873) points to a quick test of the spring nadir of 821 (May 24 low).

To: bobby beara who wrote (4087)	8/4/2000 8:52:02 PM
From: bobby beara	Read Replies (2) \| Respond to of 19219

rydex ratios 8/4 NOVA 661.5 URSA 286.7 OTC 3103.6 ARKTOS 116.9 2x BULL 105.1 2X BEAR 57.4 CASH 1046.2 BULL/BEAR+MM 72% OTC/ARKTOS 96% 2X BULL/BEAR 65% NOVA/URSA 70% Precious metal 28 biotech 629 8/2 NOVA 629 URSA 292 OTC 2925.7 ARKTOS 119 2x BULL 101.4 2X BEAR 33.5 CASH 1183 BULL/BEAR+MM 69% OTC/ARKTOS 96% 2X BULL/BEAR 75% NOVA/URSA 68% Precious metal 39.2 biotech 612 recent peak 7/14 BULL/BEAR+MM 80% OTC/ARKTOS 98% 2X BULL/BEAR 81% NOVA/URSA 72% recent trough 5/23 BULL/BEAR+MM 57% OTC/ARKTOS 93% NOVA/URSA 53%