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

To: marginmike who wrote (4832)	10/7/2000 2:40:04 PM
From: J.T.	Read Replies (2) \| Respond to of 19219

thanks, mike. I would like to call your attention to 2 stealth Bull stocks that continue to avoid being taken out of their primary uptrend in the coming week is ADBE and BRCM. These are 2 excellent Bull proxy stocks for the NDX 100 micro-test whether NDX 3,000 will get taken out or not. If they bounce back up on Monday with follow thru, then we have a short term hit and run guerrilla tradable rally. If ADBE breaks its 25 day MA (144 1/8) back to back- it closed at ADBE 147 5/8, it will be the another warning shot across the bow that they are now assaulting the strongest NDX proxy stocks. ADBE has that closing gap to fill from 9/15 to 9/18 from 132 5/8 close to 142 close and it hasn't looked back. We pierced the veil intraday low 140 5/16 yesterday but ADBE bounced back up as it has repeatedly done over and over to close at ADBE 147 5/8. For BRCM, I am looking for an intraday test of the 100 day MA at 211 7/8 - it closed at 227 5/16 with intraday low at 219 7/8. If BRCM 218 is not taken out in the next test, blow out of any short or put position quickly. 218 held 9/12 and 9/13 before taking off again... MER, JPM - along with BKX and UTIL has served MITA well in spotting the undiscernible problem in the market over the past few days. Lets see if ADBE and BRCM can do the same for us in NDX in the coming week... Best Regards, J.T.