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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: Wally Mastroly who wrote (10254)10/4/2000 10:23:48 AM
From: Mr. BSL  Read Replies (1) of 42834
 
Technically, I'd look for a big down day on volume with a spike up in the p/c ratio (yesterday) followed by selling pressure at the open (today) and then the tug of war between the dipsters and the panic-ers (this afternoon).

If today finishes positive, I would look for a retest of yesterdays lows in a week or so.

This is all academic though. As a practical matter, the NAZ big caps are still overpriced and the midcap leaders are still holding up well. Kind of the opposite of the last few years. A tale of two markets.

Of course, the NAZ & S&P500 are used as measuring sticks by most. I would use MDY and the leading stocks (PSEM, IMPH, CANI (oops!), RHI etc.) as measuring sticks.

Take care, Dick
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