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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Justa Werkenstiff who wrote (13349)4/18/2000 9:07:00 PM
From: Mr. BSL  Read Replies (1) of 15132
 
Justa, maybe Friday's close was the retest. After going down to 1339, the S&P500 finished at 1356. This was a successful retest of the March 7 close, which was definitely a sell off.

Message 13093782

If we call Friday a successful retest (I'm not yet but thinking about it and looking for similar high volume retests), then we would still need a "follow through day " to confirm Monday's turnaround. According to IBD, a valid follow through day would occur 4 to 7 days after Monday (4/24,25,26 or 27) in which the S&P500 would be up at least 1% on higher volume than the day before.

I sense that your instincts are telling you that the bottom is in. You could be right. It will be interesting to watch the market action over the next few weeks.

We'll see. Dick
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