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

To: macavity who wrote (6301)	1/26/2001 7:54:27 AM
From: macavity	Read Replies (2) \| Respond to of 19219

PMCS As I was away from my PC yesterday, I have only now just seen what happened to this after-hours. I guess there is a bit more down side in this market. I will only buy tech when 1 of 2 things happen. 1) RSI < 30 preferably 20 in NDX or a tech sector and we are near an obvious support/retracement level 2) I see a nice candlestick reversal pattern. Holy Cow!! This stock confirms my fears that the rise was too V-Shaped - too far too fast. As I mentioned before there is a likelihood that we re-test the Jan Lows. The problem here was that on 02Jan2001 NAZ NetHighLows reading was ~ -100 which is not a very large number if we get down there again I would keep an eye out on that number. Treasuries: Bonds have been selling off despite equity rally. Yesterday there was a Bearish DayReversal in $FVX, $TNX, $TYX . (Higher high, lower close). I am not sure what Greenie said or what the FedFunds are reading, but I would guess from these that Market has increased the likelihood of a 50Bp cut. I reckon this gives us a better chance of not falling off the cliff and hitting a new bottom. Looks like I missed quite a day. -macavity