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

To: High-Tech East who wrote (10018)	1/30/2002 10:48:58 PM
From: J.T.	Respond to of 19219

Ken, I am extremely happy for you. I was feeling bad that you weren't able to stick to your short guns and my recent 'bull input' certainly didn't sway you staying your course. Keep your Bearish input coming... keeps me fresh on my toes. Just between you and me... the last time I had this many posts in one day was THE BOTTOM, on September 21, 2001... Yesterday we nearly matched the total number of posts (bottom) and today (intraday bottom) we have had quite a few more posts than the 21st: Only yesterday...for your eyes only: **************** Message 16393647 To:J.T. who wrote (8540) From: J.T. Friday, Sep 21, 2001 1:37 PM View Replies (5) \| Respond to 8591 of 10020 CAPITULATION ANYONE?** This morning the DOW registered historical numbers below quintuple oversold levels at the intraday lows possibly the lowest ever recorded. To give you an idea how low this level is - 1) the day of the crash, October 19, 1987 the 5 day RSI closed at 2.95. 2) the day of the '29 crash, 10/29/29, the 5 day RSI registered 5.67. 3) this morning the DOW blew these numbers out of the water registering an intraday low of 2.31 on a 5 day RSI. Below 2.5 is quintuple oversold. This was confirmed by other indices as well at or near their lows on the 5 day RSI: DOW: 2.31 SPX: 3.29 COMP: 3.12 BKX: 2.53 SOX: 3.35 NDX: 4.47 If this isn't capitulation, I don't know what is. Best Regards, J.T.