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

To: bobby beara who wrote (4139)	8/16/2000 10:27:54 AM
From: da_cheif™	Respond to of 19219

beara ..and notice that the retracement was a perfect 75%..classic 2nd wave stuff....remember how that initial blast caught everybody by surprise..well the next one sposed to be a real hoot....another sign of the times...fidelity closed their select precious metals fund months ago....american gold bottomed a couple of years ago ....another sign of the times...the cdnx...blasted off....

To: bobby beara who wrote (4139)	8/16/2000 2:21:56 PM
From: J.T.	Read Replies (2) \| Respond to of 19219

bobby, XAU is above extreme overbought on a 5 day RSI - now at 81.18. So it is near a short term top. I waited forever for the index to turn last go round and lost 1 1/2% and got out. Haven't been following it that close of late. As for the broad market, HWP reports after the bell today and is the "X" factor for the market whether we go lower tomorrow or whether we start heading back up. Any way you cut it, we are near a short term bottom over the next day or so before we get that smart bounce. Best Regards, J.T.