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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 (11620)	4/16/2002 5:59:47 PM
From: J.T.	Respond to of 19219

Thanks Ken. This broad market is the mirror opposite of what it was at March/April 2000. The earnings were coming in at peak performance and couldn't deliver any better news. It was market utopia, nirvana. The market was priced to perfection and couldn't sustain growth at current levels. Nobody knew this at the time, but the market had started telegraphing it early as the DOW peaked in Jan 2000. Now, earnings have been revised downward repeatedly to the point that the bar is so low it is easy to make the hurdle to beat estimates. Many are expecting things to get worse and in reality it is the DOW again telegraphing higher prices along with RUT and Midcaps.. SPX and COMP will now play catch up. Earnings are going to start getting revised higher now. Inventories are drawn down from Y2K. Increased demand is coming down the pike. Best Regards, J.T.