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

To: Square_Dealings who wrote (12067)	5/5/2002 12:11:57 PM
From: High-Tech East	Respond to of 19219

<<ND (Nadaq 100) is STARTING to look like it will rally soon>> <<It looks like it's accelerating to the downside and there's no reason to think it's going to stop yet either imo. Let someone else find the bottom in this stuff and wait for a reversal.>> Michael, I do not disagree with you, but the hints are there, and are strengthening, so in my opinion, it is time to plan ... (1) The commercials have been getting progressively less short the ND for 6 consecutive weeks ... (2) Public Sentiment for the ND has been slowly declining for 7 consecutive weeks ... (3) ... the % of advancing volume (10 DMA) for the NYSE, Nasdaq and Amex that I track daily sank to 37.1% last Friday, by far the lowest it has been since just after September 11. NOR DO I ADVOCATE GOING LONG THE ND NOW, but I doubt it will be many days or weeks before that will become a winning futures trade that I will take when appropriate. Ken Wilson