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

To: J.T. who wrote (7630)	4/24/2001 12:47:02 PM
From: J.T.	Respond to of 19219

A second opinion on JSE Gold Index from a respected analyst ... The JSE gold index, since February 27, 2001, has made 3 attempts to break through the 1100 mark, this despite the fact that the gold price has been moving down steadily from 270 to 255 dollars in this period. On Friday April 20, the gold price moved up to $264 taking the JSE Gold index again to an intraday high of 1115, but then pulling back to 1096 at the close. The level between 1100 and 1115 now becomes a vital resistance zone that the gold index needs to overcome. The chart is exciting, suggesting that a break of the gold index past 1120 will set gold shares stampeding on a very lucrative run for gold shareholders. Is this possible? According to the recent Gold Field Mineral Services report, this is unlikely, with the dollar price of gold more likely to move lower over the course of the year. The cycles generated by the Cycle Trends stock market program suggest that this possible. However, while the cycles have proved to be very accurate in forecasting the industrial market, gold cycles have not been quite as good. Be that as it may, the current gold index cycles suggest that 1115 will be beaten this week. The top chart is a line graph of the JSE Gold index showing the resistance at the 1100 level. The lower chart shows the cycles due to a register a low and move up sharply in the coming week. Time will tell if the cycles, this time round, are giving an accurate forecast for gold shares... Best Regards, J.T.

To: J.T. who wrote (7630)	4/26/2001 3:25:59 PM
From: J.T.	Read Replies (4) \| Respond to of 19219

Like clockwork. All gold index breaks out above JSE 1100 to close at JSE 1127 yesterday. XAU follows thru like a champ today breaking out big time to XAU 54.83 up 2.74 up 5.2%. Today we will get our highest close in the XAU since March 8-12. From MITA 7630 on April 24th: ******************************* Lead sled dog All Gold JSE Index is on the verge of a major breakout and XAU to follow. JSE 1072.50 has been banging on serious resistance at this JSE 1100 level on a closing basis 3 of the last 5 trading days. I noted on da cheifs thread where JSE was headed: *********************** To:da_cheif who wrote (920) From: J.T. Thursday, Apr 12, 2001 1:08 AM Respond to of 1181 U got it... I love that breakaway gap in johan.. gold index (JGOL) on april 3rd close april 4th open jgol 977.80 - 990.10. Once that second upside gap gets filled at jgol 1030.80 - 1037.20 in a perfect flag formation from highs 1079 intraday highs we are off to da moon... XAU ready for launch to follow... JGOL finished at 1066.60. Next assault is March 12, 2001 close high JGOL 1,101.20. Once this is out we are in break-out city... first stop 1145... then 1200... ******************* That second gap at 1030-1037 has still not been filled and if we have one close above JSE 1100 will then be a second unfilled breakaway gap... XAU is sure to follow. Today we are up 57 cents at XAU 52.29. ************************ Makes up for QCOM dog today... Best Regards, J.T.