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

To: mishedlo who wrote (9411)	11/13/2001 2:35:39 PM
From: J.T.	Respond to of 19219

Exactly. I would like to see a pullback on Monday to get below overbought range RSI-wise, but we could easily go to double or triple overbought levels and market could scream higher before exhaustion sets in. We got the pullback Monday morning after another air tragedy but the pullback it was shortlived to intraday action. Now we are getting the last half of the Fridays rydex update equation... Above double overbought levels on RSI. Until sentiment capitulates (or at least pulls back) in Short Funds as measured by Rydex TA, we can continue to go higher and potentially brush triple overbought levels. Best Regards, J.T.