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

To: SpecialK who wrote (8380)	8/21/2001 12:59:06 AM
From: J.T.	Respond to of 19219

Wonder what you make of the 2 statements below. From 10/18 to 4/4, the NDX Long OTC has moved from 2549 to 969 (trending lower). If this lowest close since April 4th holds, it means something. If the markets head lower, doesn't the NDX Long funds head lower with it? Yes, and this is exactly what has been happening. IF NDX goes to a double bottom, but the NDX Long fund is lower, would you view it as bullish or bearish convergence? BULLISH, as it signals more invested money is heading for the exits as the botoom is being tested and ready for reversal. Best Regards, J.T.