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

To: J.T. who wrote (17180)	5/28/2003 11:52:58 AM
From: Terry Whitman	Read Replies (1) \| Respond to of 19219

Same here. Still holding at 85-90% long. I did sell a QQQ position on friday, and wish I hadn't now. <ng> Speakin o' LARGE CAPS (pun intended)- HON appears to be makin a move. biz.yahoo.com

To: J.T. who wrote (17180)	5/29/2003 8:16:41 AM
From: High-Tech East	Read Replies (3) \| Respond to of 19219

At 6:48 AM CT, I shorted the June SP at 954.50 - 1 contract. Buy stop set at 958.50. 1. SPX is right on the edge of breaking through neckline of monthly "head & shoulders" formation dating back to October, 1998. A break through here would be huge for the bulls. Exact same formation and conditions exist on the New York Stock Exchange Composite. I will believe it when it happens. 2. SPX is right at the edge of 3 year declining trend line from 2000. Again, a break through here would be huge for the bulls. Here again, I will believe it when it happens. 3. The VIX volatility index is at the bottom of a channel that has consistently indicated a top in equities in the past. 4. Reports for Corporate Profits, GDP and Jobless Claims this morning at 7:30 AM CT. I do not expect this to be bullish. 5. Every indicator I have seen lately says that equities are well overbought. 6. The daily SPX is up 5 consecutive days. It is due for a rest. 7. Have a buy stop in at 958.50 in case the reports in #4 are viewed favorably in the SP futures pit. 8. Other than that, my only other concern would be a G&C at the 8:30 AM CT equity open [gap up and crap down] in New York that could shake me out at just the wrong time. Ken Wilson