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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: Jenna who wrote (119004)12/14/2000 10:37:15 AM
From: Jenna   of 120523
 
TIBX marketgems.com likewise had no chance. If you pull up the 5 minute and daily chart of TIBX now (this one was from last night).. you can see that that 2 bar move to the downside and the move down of the stochastics from overbought to oversold escalated the momentum of the downtrend. There was not a clear downtrend established until the -DX finally crossed the +DX and the stochastics continued to weaken. This was the confirmation of the more obvious moves of the bearish bars on the five minute chart. Of course an initial gap down and awful market internals don't help matters and just put some more nails into the coffin.
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