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

To: Killswitch who wrote (11541)	4/9/2002 10:15:37 AM
From: J.T.	Respond to of 19219

Thanks Brian. I will correct my error. Nice analysis on the ratio... Market could still possibly test Monday support levels before tomorrow close one last time. It would help that ratio take one last plunge if we had one good down day either today or tomorrow. Best regards, J.T.

To: Killswitch who wrote (11541)	4/10/2002 11:06:48 AM
From: Killswitch	Read Replies (2) \| Respond to of 19219

From Jay Shartsis/RMYPro "A Topper 04/10/02 10:15 AM EDT Very interesting piece from Richard Russell in his latest "Dow Theory Letters." Looking at a long-term chart of the S&P 500 he notes that its 20-month moving average first crossed above its 40-month moving average in May 1980. (Keep in mind that the 20-month is the faster moving one.) In September 1982 the 20-month came down to touch the 40-month, but did not penetrate it. This happened again in June 1989, touching the 40-month but not closing below it. The market then went up for years with the 20 month staying comfortably above the 40-month until January 2001. At that time, after 22 years, the 20-month moving average dropped below the 40-month and has stayed below it ever since. From this, Russell concludes that "a major top is in place." Further he suggests that the 20-month moving average will now offer serious resistance to any rally. It now stands at 1232. "