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Politics : High Tolerance Plasticity

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To: kodiak_bull who started this subject	8/6/2003 12:54:50 PM
From: energyplay	Read Replies (1) of 23153

Technically Speaking -- from Rev. Shark 8/06/03 09:08 AM ET Let's take a look at the technical picture of the major indices. I use the 50-day simple moving average as a very rough way to measure momentum. When a stock breaks below that level, it reaffirms the problems that a break in the trend line is indicating. The S&P 500 has broken its trend line and its 50 dma. The DJIA has broken its trend line and its 50 dma. The Nasdaq has broken its trend line but is still holding its 50 dma. The Nasdaq 100 has broken its trendline and is holding its 50 dma. The SOX is holding both its trend line and 50 dma, which is a positive. (Watch this group closely. If it takes out support, it bodes poorly for the broader market, particularly the Nasdaq.) The Russell 2000 has broken its trend line but is holding its 50 dma. (Small-caps should lead a bounce, so watch this group.) So there are plenty of technical problems out there that won't be easily corrected. Give the benefit of the doubt to the bears for now.

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