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

To: J.T. who wrote (7209)	3/13/2001 11:01:58 AM
From: J.T.	Read Replies (2) \| Respond to of 19219

As long as BKX stays below BKX 850 let alone new resistance at BKX 860 today, the DOW and SPX are not going to have any meaningful bounce. If BKX manages to find a way to close back above BKX 860 at the bell then yesterday will be considered a one day false break. Right now BKX is at BKX 844 and change with an intraday low of BKX 839 and change and and intraday high of BKX 849 and change. DOW is down 6 and SPX is up 1. COMP is up 43. Best Regards, J.T.

To: J.T. who wrote (7209)	3/14/2001 9:49:12 AM
From: J.T.	Respond to of 19219

Yesterday we did not get our SPX 1,160 intraday test as everything bounced off the intraday lows of SPX 1,171.50 and we turned back up. BKX bounced and closed back above that BKX 860 to close at BKX 869.49. Now we are getting the whipsaw as SPX is down 34 + to SPX 1,162.76 right above my SPX 1,160 test I called for last week. I would like for this SPX 1,160 critical support to be litmus test for close prices. A close above this level would be small light in dark tunnel. A close below this level could accelerate the slide in the market. BKX at BKX 822 below yesterday lows and BKX 780 is death row support that has served MITA so well in the past. Best Regards, J.T.