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

To: marginmike who wrote (4475)	9/5/2000 4:31:14 PM
From: J.T.	Respond to of 19219

mike, a good solid tree shake is in order over the nearterm. I see NDX took out NDX 4,000 to close at NDX 3,987.03. This, in spite of strength in the nets... The rydex "LONG Money" got caught with their pants down when it seemed "most safe". I have never seen money rotate that strongly "LONG" on a Friday close and this is BEARISH. I will give you a more concrete answer tonight late on these supports that need to be held... I also want to see how the money rotated in rydex tonight after todays action... I do not like the fact that August finished real strong in the market and went out like a lion... It makes it harder for september/october to follow this bullish act. QCOM is getting real close... Best reagrds, J.T.