Ask DrBob Message Board - Msg: 14323292

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Strategies & Market Trends : Ask DrBob

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To: Drbob512 who wrote (3124)	9/3/2000 7:42:47 PM
From: the-phoenix	Read Replies (1) of 100058

Hello to Dr. Bob: Bob, Do you think that Friday's gap up and immediate fill could represent an exhaustion gap for the current month-long rally? (Not necessarily of a longer rally in the next larger timeframe.)I see a lot of overbought indicators and a quick glance at the charts of $SOX, INTC and CSCO tells me that these will not be leading the market up any time soon, but could be ready to lead it down. BTW - Friday's gap and range from open to close were actually inside the gap created by the reversal down from 4289 that occurred at the previous market high - an example of a relatively rare "gap echo" that indicates a likely pricepoint for volatility expansion. The question is: In which direction?? Your input to this possible interpretation would be very helpful. Thanks. The Phoenix \```> //

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