Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: s berg who wrote (7617)	4/24/2001 10:12:25 AM
From: J.T.	Respond to of 19219

The psyche of the market has definitely changed since January as the market kept hitting new lows and lower lows much deeper than most expected- myself included. Now they don't trust any rally as sustainable and this is an early ingredient needed for the market to have any chance sustaining an advance higher. The DOW is an early litmus test as it has bounced 1,400 DOW points off the intraday bottom DOW 9100 and pessimism persists. The DOW comfortable rests above DOW 10,500 now and another 1400 point "bounce" and we will be at new DOW highs.... Of course it will be much more difficult for NDX and SPX to hit new highs until tech gets fully in gear but these pullbacks should be bought but with an open mind that we can advance much further than most believe but also that pullbacks can and will occur on a dime. Also, in January is when I began first began to recognize that Rydex reporting seemed "out of whack". I would have to call the trading desk to verify if money market assets actually got that low below 800 million. I have my doubts.. Best Regards, J.T.