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Strategies & Market Trends : Ask DrBob

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To: bcrafty who wrote (6245)	9/23/2000 8:24:56 PM
From: TraderMERL	of 100058

Nasdaq Double Market Top Analysis Update. Hi folks, thanks for your responses. I should have been more descriptive. Here are the details: 1. Existing uptrend prior to first peak but not a very long one 2. First Peak July 14, next peak Sept 1 3. First peak resistance at 4290. Second peak tested at 4250 within the 3% range of first test 5. Both peaks well below the March Double Top Trough low support of 4440 6. NAZ below current trendline support of 3790. 7. 10% decline or more between troughs to 3520 8. Slow rise of second peak indicating tepid demand 9. Chaikin Money flow about 20 for 1st peak and about 10 for second peak 10.Friday's Dip on vol of 2 Billion indicating acceleration of sell off volume 11. Distance between Peak 1 and Peak 2 of about 1-3 months (normal for DT) 12. Higher average volume for first peak than 2nd Peak 13. Break of support trendline at 3790 on Good volume NOTE: Numbers are approximate my charting service is not that good. NB: This is JUST an analysis I am not an expert

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