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

To: macavity who wrote (6549)	2/13/2001 8:12:18 AM
From: macavity	Respond to of 19219

Sector / Industry Groups. Utilities. Bearish (day) Reversal in index and most stocks (higher high; lower close) while short-term o/bought. Requires 1 more (down) day to really confirm the pattern. Not sure what is going on here from a news view. (It will just confuse my cloudy picture). Energy: O/Bought , and like utilities there are a few reversals, but primarily there are dojis and the like. SLB was taken out and shot! Drugs: O/Bought, but look as if they could have a little more upside. No reversals though. Tech: O/sold. Effectively a few reversals, but like UTILs and the energies, these really require 1 more day to confirm. Transports/Cyclicals: These seem to have held supports (3000 < TRAN) and (519 < CYC). All in all if Al G does his stuff we seem all poised to get the long cyclicals short defensive play back on the road. (About time) Banks these seem to have bounced of short-term support @ BKX > 925 region and with Nasdaq Banks (BANKX) having broken out. I am still suspicious of how long the tech rally will last. Good luck all -macavity