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Strategies & Market Trends : Ask DrBob
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To: Drbob512 who started this subject2/15/2001 12:02:34 PM
From: Drbob512   of 100058
 
*****TA Update(intraday)*****

The Nasdaq bear market may be "long in the teeth" and could be having a trend reversal or at least a strong technical bounce over the weeks to come, as the breadth had improved greatly over yesterday at 5/3, while up/down volume is once again impressive at 5/1.

If we get a strong close with good volume over 2B shares, then we may have a hypothetical Buy signal from a technical view as we could have made a higher low at 2388 with a good reversal of trend and a Oscillator buy signal due to improved breadth and bullish divergences over the past week.

Some aggressive traders may wish to consider buying a little on intraday dips if one thinks this rally will hold up today, which will be signalled by how the a/d does over the next few hours. If it improves, then we will be looking positive, as also the TRIN at .31 is extremely bullish now and needs to hold up as well under.50 and especially at the close.
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