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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 (14695)	10/2/2002 10:30:01 PM
From: bobby beara	Respond to of 19219

... it almost looks like SPX down to as low as 400 might be where we are headed ... if there is going to be any symmetry to it (not likely, right ... <g>) ... take a look yourself ...<<< yes it appears we are in a period of economic contraction or at least muddle through, and more importantly of p/e contraction, the reverse effect of the 90's rally, i had some possible ending wave counts into sept 01 on the bonds and the stocks but those only gave bear market rallies that ended up in new lows, i believe we are getting near a tradeable bottom, but my tea leaves say we could see one more leg down after we toss around for a while, csco has broken firmly a descending triangle that you could really stretch back to december 00, msft has a big triangle that has been forming from the may/june time frame. there is this missing piece to the sentiment puzzle cbs.marketwatch.com