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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: donald sew who wrote (34495)	11/1/2000 7:44:40 AM
From: allen menglin chen	of 42787

The Big Picture Wednesday, November 1, 2000 Nasdaq, Dow Surge Again In Significant Trading Day Investor's Business Daily investors.com The Nasdaq changed from a bearish to bullish costume just in time for Halloween. The switch came as the tech-dominated index followed through Tuesday on a rally that began last week. The composite vaulted 5.6%, its 10th-biggest percentage gain on record. Volume swelled above 2.1 billion shares. The session had all the elements of a classic follow-through confirmation, a signal that hasn’t missed the beginning of a major market advance. First, the Nasdaq shot up much higher than 1%. In past years, a 1% move was sufficient. But with the market’s volatility and the immense power of big mutual fund families, you want to see a gain of at least 1.5%. Second, volume expanded 23%, a healthy increase in trading. Paired with the Nasdaq’s point gain, the session was clearly powerful. And finally, the follow-through fell on the fourth day of the rally. Significant follow-throughs usually occur on the fourth to seventh days. Follow-throughs after the 10th day generally point to a weaker rally. ...

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