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

To: J.T. who wrote (18613)	10/9/2004 11:51:46 AM
From: $Mogul	Read Replies (2) \| Respond to of 19219

It has not yet as you can see where the mkt has retraced from. The MACD crossover was at very overbought levels. Also, if you are just using this indicator for you decisions it would not be a good idea. When I posted this on 9/7 Dow closed at 10,388.95 Dow closed at 10,055.20 Friday Oct. 8th. This is roughly a 3.21% decline from when I posted that I disagreed, and was correct. Not sure what you are looking at but I would consider re-evaluating. Down Friday down Modnday is a higher probability especially when you look at the lower low that was made. Support is cleary lower. The fact taht the bond mkt is closed on Mon. is another scary proposition. Currently. the mkt is pricing in more of a Kerry victory then a Bush victory. If Kerry does win then a retest of the Aug. lows is a higher probability. Whoever wins the presidencey I see a late 4th quarter rally. Also, earnings reportig is about to happen in full swing, the news most likely will be sold, as earnings should be avg. at best. $Mogul