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

To: bobby beara who wrote (4689)	9/26/2000 4:41:18 PM
From: J.T.	Read Replies (1) \| Respond to of 19219

bobby, Sounds good to me. I will add some some comments after you post the numbers late tonight. SPX 1,440 is out back to back (SPX 1,427) although NDX 3,580 support held to close at NDX 3,583 down another 39+. QCOM looks real strong as Bull proxy for NDX as it closed up 3 3/8 to 73 3/8. I don't want to split hairs but with SPX yesterday close at SPX 1,439, you could say today was the first decisive real close below SPX 1,440. With SPX 5 day rsi at more than double oversold 15.32 and NDX 3,580 still alive, I remained long 1 more day in both SPX and NDX. I have been taking punches long like Jake Lamotta in Raging Bull <g>, but it is individual issues like QCOM, SMTR and MVIS that are buffering rydex for me. Did you notice even the XAU took a hit to close at XAU 48.99 down 60 cents down 1.2%?? Best Regards, J.T.