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

To: Ken Reidy who wrote (18517)	2/24/2004 10:59:21 AM
From: Ken Reidy	Read Replies (1) \| Respond to of 19219

Dan...one last time...again today, we have a big miss in consumer confidence that should be very stock market negative. Initially, that is the perception...and the stock market weakens. However, the realization that this will lead to a weaker dollar due to the fact the Fed can't raise rates ever again(just kidding)soon turns the stock market right around and we have a big intraday rally. The stock market likes a weak dollar right now...and I believe the market rally is all dollar related. It is very interesting to watch this develop. The Gov't refused to release PPI last week...probably because it would have been double digits on an annualized basis. This would have lead to a sharply higher dollar and the stock & bond markets would have been crushed short term.