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Strategies & Market Trends : Ask DrBob
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To: Drbob512 who started this subject9/19/2000 11:44:55 PM
From: bcrafty  Read Replies (1) of 100058
 
Dr.Bob512, re: recent naz movements

In you TA after Labor Day weekend you mentioned the many positive indicators showing at the time and predicted higher movements by the end of that week. I was as disappointed as you were that the rally did not continue then, and instead a decline started.

In looking back again at the data that was in your charts at that time, was there anything you saw that could have indicated that a decline was more likely to come than a continuation of the rally? I think the only thing you mentioned in that vein was that the RSI was showing near the top of the Bollinger bands.

Also, I read analysts who speak of the "double top" that was reached around 4250, and of course they're looking with 20/20 hindsight, but did you see anything on September 6 to indicate that a "double top" had been reached? And is there anything special that you look for in trying to decide if the market has reached a "double top" at any particular time?
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