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

To: J.T. who wrote (6050)	1/12/2001 5:47:32 AM
From: macavity	Read Replies (1) \| Respond to of 19219

J.T. In all honesty I am surprised that it did not breach it. SOX, XTC, DDX and a few other techs all seemed more confident at their resistances. I do not feel that NDX can rally past NDX=2550 with Biotechs acting like an anchor. Until more time has passed so that the downward trendlines from Sep2000 met/approach these levels I consider NDX=2550 and SPX=1330/35 as my caps on any rally. With the exception of SOX, I cannot see any tech sector indices that have formed anything approaching a decent bottom. XTC looks like a sharp V bottom, XCI does not look much better either. It can break out from here but I do not think that it will be sustainable. Biotechs - you get slightly differing answers depending on if you look at BTK or BBH. BBH has hit its target, but I actually use BTK, which points to more downside. Index SepHigh NovLow DecHigh Projection BTK 811.61 551.41 708.62 448.42 BBH 206.00 150.00 187.00 131.00 As I mentioned before there are mucho Biotech lockups occuring in Jan2000, so I think that these should cause the sector to be underpressure for a while yet. (I think BTK is equally-weighted and BBH has some capitalisation influence). The Ameritrade Index has been sub 50% for the last 3 days - spooky, and the market has faded the open. Spooky huh. Looking for an up open today to go lower into the w/end. -macavity

To: J.T. who wrote (6050)	1/12/2001 5:48:20 AM
From: macavity	Respond to of 19219

J.T. In all honesty I am surprised that it did not breach it. SOX, XTC, DDX and a few other techs all seemed more confident at their resistances. I do not feel that NDX can rally past NDX=2550 with Biotechs acting like an anchor. Until more time has passed so that the downward trendlines from Sep2000 met/approach these levels I consider NDX=2550 and SPX=1330/35 as my caps on any rally. With the exception of SOX, I cannot see any tech sector indices that have formed anything approaching a decent bottom. XTC looks like a sharp V bottom, XCI does not look much better either. It can break out from here but I do not think that it will be sustainable. Biotechs - you get slightly differing answers depending on if you look at BTK or BBH. BBH has hit its target, but I actually use BTK, which points to more downside. Index SepHigh NovLow DecHigh Projection BTK 811.61 551.41 708.62 448.42 BBH 206.00 150.00 187.00 131.00 As I mentioned before there are mucho Biotech lockups occuring in Jan2000, so I think that these should cause the sector to be underpressure for a while yet. (I think BTK is equally-weighted and BBH has some capitalisation influence). The Ameritrade Index has been sub 50% for the last 3 days - spooky, and the market has faded the open. Spooky huh. Looking for an up open today to go lower into the w/end. -macavity