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

To: JRI who wrote (5898)	1/3/2001 9:15:23 PM
From: bobby beara	Respond to of 19219

jri, i don't think there will be a retest anytime soon, i think yesterday was a diverging retest of the bottom on the 20th. i think the nasdaq could retrace all of the falling wedge from october, which is 3500. yesterday the rydex ratios finally hit their lowest low since october 99, though i haven't been tracking the data that far back and if anybody has decision point, maybe they can check the chart out and see if we touched the levels of october 99, though i think at the october 99 bottom ursa had more assets than nova, but we have a much different market now and the bulk of the bearishness is now in tech, where it was broader then, the march a/d bottom really put a washout in nyse stocks. so i think the dips should be bought now, instead of selling the rallies, for a while anyway. i think the market will remain volitile you can flip em now for a while but with an emphasis on the long side instead of the short side. thats my wag anyhows -g-