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

To: marginmike who wrote (11952)5/1/2002 11:22:55 AM
From: J.T.  Read Replies (1) | Respond to of 19219
 
If BKX finds a way to close above BKX 871 today it will be a mighty achievement.

If BKX takes out BKX 858.50 the selling could accelerate until BKX 840 where a gap comes into play. Then reversal back up. One close below SPX 1,060 is entirely possible, but I believe it would be a one day false break. Back up the next day.

If not...

Market close is final arbiter.

Best Regards, J.T.



To: marginmike who wrote (11952)5/1/2002 2:30:58 PM
From: J.T.  Respond to of 19219
 
BKX would not give way to BKX 858.50 for two (or is it 3) consecutive days... Once the selling dried up the trap and reversal was set. <ng>

Hopefully you made a profit on the short side of BKX.

Best Regards, J.T.


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