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

To: J.T. who wrote (10453)	2/15/2002 2:32:56 PM
From: Dominick	Read Replies (2) \| Respond to of 19219

SOX will lead tech ala NDX and COMP outta dis here mess and those levels 1500 - 1580 will be seen soon enough. Well that may be but, $SOX has the 600 area to contend with. SMH, which is the same thing, has the 47.50 area to fight also. In the last part of the trading range of SMH, volume decreases on rallies and increases on pullbacks. That to me is a sign of weakness. IMHO, events need a cause. For e.g. distribution in a trading range is the cause for the downtrend and vice versa for an uptrend. So I believe there should be a test of the lows, an extended trading range to clean out the weak hands and accumulation to build the cause for an uptrend sufficient enough to overcome above resistance areas. Having publicly said that, I am now worried that Murphy's law is going to hunt me down and kill me. :) Oh well, we'll see, Dominick