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

To: J.T. who wrote (8368)	8/17/2001 12:10:11 PM
From: marginmike	Respond to of 19219

in this market the indicies arnt turning till AFTER a fakeout break of up or down. Just like we head faked the way up we will now head fake the way down. Trading range stuill in effect.

To: J.T. who wrote (8368)	8/17/2001 3:34:07 PM
From: J.T.	Read Replies (1) \| Respond to of 19219

At session lows and moving into the range low end support zone on SPX 1145-1153 now at SPX 1156 down 25.50 SPX below double oversold 17.6 on 5 day RSI. CBOE Equity Index Put Call Ratio remains high in capitulation record territory 1.08 with 1 hour to go. Bears having a feast chowing down the Bull. Rydex better show some capitulation measuring this MELT-DOWN with tonight's numbers. Otherwise carryover Monday morning for Bears before reversal can materialize. Best Regards, J.T.