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

To: macavity who wrote (6302)	1/26/2001 7:59:36 AM
From: AugustWest	Read Replies (1) \| Respond to of 19219

Fed summary... Message 15245771 My guess is only a 25BP cut. How the market will respond I don't know. I suppose a lot has to do with how it moves the next couple days.

To: macavity who wrote (6302)	1/29/2001 7:13:35 AM
From: macavity	Respond to of 19219

Sectors / Industry Groups. Banks (BKX) 5D RSI 72.89% Long-Term and short-term stochastics o/bought. I see these in a prime position to be sold 'on the news'. Biotechs (BTK/BBH) 5D RSI (BTK) 70.19% Sorry for being slow, but it has just hit me that these are behaving like DRG rather than NDX. Duh! AMGN has basically lifted this whole sector since its good news. A lot of these stocks have rallied on decreasing volume and are now/becoming short-term o/bought in wedge/flag formations. UTILS (UTIL;UTH) 5D RSI = 75.79% SmallBodied/Longtail candle - Hopefully I get my reversal soon. TELCOS (XTC;TTH) 5D RSI = (30.82%; 27.31%) The only o/sold tech sector that I could find. I think that these will lead tech (with the SOX) as they represent all the Debt and Capex hopes of the Tech-o-philes. Most tech sectors having been o/bought on Wednesday have now got their short-term stochastics turning down. This is a hard one to guage as at the start of bull rallies these are normally o/bought for significant periods. I feel the market is still primed to sell-off whatever Al G says and will go lower. As I am not quick and nimble I will stick with buying the Telcos on any sell-off at supports/retracements and selling Biotechs if they even begin to approach their recent highs. I am experimenting with getting my computer to pick sectors/industry groups that may reverse and offer a good chance of a minimum 2-3 day movement. Hopefully this will keep me on-side for EOD position trading. Here is what it came up with. Bearish Reversals Beverages - SoftDrinks Insurance Medical Products Utilities - Electrical Bullish Reversals Electrical Equipment Machine Tools Transports - Railroads. Utilities - Telephone. Browsing through a bunch of charts I seem to agree with it, but I am sure it has missed a few industry groups. Anyone with any ideas about this stuff (or an SI board that does this stuff) let us know. Trading intra-day is doing my head in. - macavity