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

To: Toni Wheeler who wrote (65)	6/6/1999 7:54:00 PM
From: Bart	Read Replies (1) \| Respond to of 19219

JT-I think your thread will be very successful!-I really like the support and resistance lines and the way you form your bias either bull or bear. It looks like we are at resistance point now and if we close higher the bull may be back. I think not though as the jawboning of AG and the fed keeps real fear in the hearts of professional traders. For me, these are shorting opps until fed bias change are completely digested. If June's numbers show less strength... We could see confidence return and the bull back on track. CPI and PPI are key. I do believe fed tightening is now deemed likely and thus could minimize downward drop if and when they move... 25 points I think the market can handle...50 I am not so sure.-I think we are range bound for a few weeks. Recent support are buying opps and resistance like now vice-versa. good luck and keep up the great work!-Bart

To: Toni Wheeler who wrote (65)	6/6/1999 10:51:00 PM
From: J.T.	Respond to of 19219

Thanks, Toni. We have another non-event week of very little news until Friday with Producer Prices and Retail Sales ready to step up to the plate. Remember the last time the market had the "no news syndrome"; .... we went down. Then we get the "goldilocks number" on non-farm payrolls with puny 11,000 increase. I guess the players didn't want to concentrate on the revised increase in April non-farm payroll employment #'s. The revised Numbers show April really increased 343,000 vs. initial report of 234,000. Maybe our Statisticians over at the Department of Labor Statistics forgot to add a "0" in that May number. I guess they will have to revise that number up again next month . We will revisit this post next month after the smoke clears the room. <ggg> Best, J.T.