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

To: J.T. who wrote (15007)	11/6/2002 10:21:53 PM
From: dvdw©	Respond to of 19219

Agreed, thanks for the comments.

To: J.T. who wrote (15007)	11/6/2002 11:52:14 PM
From: Killswitch	Read Replies (1) \| Respond to of 19219

Rydex numbers now definitely showing a bearish divergence. SPX long assets are higher than they were at any point in the August rally, even though we didn't close today anywhere near the 950+ we achieved back then. NDX long assets also look overextended. So I definitely agree with you a pullback is due. What I am not so sure about is that it will reverse back up to make new highs. We'll have to see how the sentiment changes on the pullback... if this over-bullishness continues then we may just keep heading down.

To: J.T. who wrote (15007)	11/8/2002 2:24:09 PM
From: J.T.	Read Replies (3) \| Respond to of 19219

The market has digested all double overbought levels down yesterday and for good part of today as FUD characteristics have embraced Mr. Market in 2 short days. This is exactly what was needed to keep the Bears in play and fulfills minimum requirements in this pullback. With the DOW down 65, COMP down 16 and SPX down 8, for market to do my bidding I do not want to see the market turn up into the bell. I want fear uncertainty and doubt to be on the minds of investors into the weekend. Right now the ten year bond yield sports an unattractive 3.84% out of that lower band and provides few alternatives as the market ramp back up commences into acceleration next week. Love that CBOE Equity Index Put Call ratio at 1.13 and pure vanilla P/C ratio right at .99. Best Regards, J.T.