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

To: Killswitch who wrote (14619)	9/20/2002 10:45:36 AM
From: Killswitch	Read Replies (1) \| Respond to of 19219

H&S update: BKX remains well below the neckline, and would hit the target if we go a bit lower to the 650-660 area. BTK this morning sliced through the neckline of a large H&S on the 60min chart with target of around 245. SPX is arguably below the neckline of a 60min H&S w/ target 785-790. NDX below neckline of large H&S on 60min w/ target of about 710-715. SOX is under neckline on 60min w/ target 190. etc. etc. Lots of bad stuff, plus don't forget the multiyear H&S we are still in on many indices, especially the SPX. What would make sense here is a bounce from perhaps 7750-7850 area of DJIA to 8200 to convince a lot of people we had an ok retest, then we turn around and head downwards through a good chunk of October to meet these targets.