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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	5/4/2001 1:04:38 PM
From: besttrader	Read Replies (1) of 37746

13:00 ET Dow +82, Nasdaq +34, S&P +11.62: [BRIEFING.COM] Things continue to look good in the early afternoon with the major indices trading at or near the day's best levels. At this point, the issue of Friday afternoon trade activity comes to mind. Typically volume is lighter on Friday afternoons as traders pack it in early ahead of the weekend. This leads to market volatility towards the end of the day. Today looks like it could be an aberration in the sense that total volume traded is moderate for both the NYSE and the Nasdaq. The markets have worked into a trend for the day and the obvious bias is to the upside. Market internals have improved dramatically since the morning and have reached a point where it would be fair to characterize them as bullish. Though breadth does not skew positive to the extent technicians would like to see, advance volume is outpacing decline volume by a 2 to 1 margin on the Big Board and a 3 to 1 margin on the Nasdaq. Participation is evident in a few different groups. Financials, oil, tech and insurance are experiencing buy interest which is more than offsetting sell pressure in retail, airlines, publishing and defense. DJTA +0.1%... DJUA +0.6%... SOX -0.7%... XOI +1.7%... BTK +2.0%... Nasdaq 100 +1.7%... S&P Midcap 400 +0.4%... Russell 2000 +0.2%... NYSE Adv/Dec 1613/1266... Nasdaq Adv/Dec 1750/1704.

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