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Strategies & Market Trends : Ask DrBob

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To: Drbob512 who started this subject10/3/2000 12:04:06 PM
From: Drbob512   of 100058
 
*****TA Update (intraday)*****

The Nasdaq opened gap up on hourly charts at 3624, but it failed to hold and the gap filled as the index declined to as low as 3539, which was shy of the prior low of 3521. The high was 3639, exactly 100 points away from the low of the day coincidentally.

Nasdaq TRIN is near .85 as it has been under 1.00 this morning and the 60 min stochastic is crossed down, indicating some near term strength.

The a/d is negative once again at 3/4, with up/down volume 3/4 as well and the overall volume at 800K shares so we may get close to 2B shares by the close. The Nasdaq is now in the mid-range of it's trading range today, so for a clue to the direction, follow the 30/60 min stochastic and the a/d as well as the TRIN or ARMS.

Am still looking for a selling climax...
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