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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Joan Osland Graffius who wrote (6635)7/27/2000 9:23:42 PM
From: AllansAlias  Read Replies (2) of 436258
 
Advisory: This post contains no links to animal sounds or images.
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Ignoring rummy junk like FTSE and N225, there were some breaks today that could signal some serious giving.

SP400 gave up the horizontal shelf at 491 with ease. This had been tested/built over many days and I would have expected it to hold. (Not long ago, this was touted as leading the market when things looked iffy.)

Internet index broke out of its rising wedge. I think wedges are worth about as much as Luc's reading abilities, but hey, it broke.
(Other wedges such as SP500, NDX, OEX, and Wilshire were already broken.)

NYA had an up day, but that's not a particularly bullish stick. The break out of that big f*ckin' triangle looks real.

Russell 2000 did its fair share of giving, having now wiped out almost all of June and July.

SOX is threatening the trendline that goes back to Oct/98. Depending on how you draw it, using lows or closes, it broke it today. (I'm semi-log BTW.) This is the same line that was tested by the intermediate low of 5/24. Double-top measurement would bring it down to at least 200 SMA, something it has not seen since fall of 98.

Dell has broken the trendline from Jan/98 that goes through Jan/00. Bye, bye.

Less fear in VIX than yesterday.

Decent spike in NASDAQ declining issues.

Just some random happy bear thoughts. --Allan
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