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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject7/6/2001 9:50:42 AM
From: besttrader  Read Replies (1) of 37746
 
Wow, bad internals --> Declining volume outpacing advancing by 9 to 1.

9:45ET Nasdaq broken a near-term band of support in the 2060/2050 area (62% retracement of the June rally) on market internals that look horrible early on. Declining volume is outpacing advancing volume by a margin of 9 to 1. The semiconductor sector is selling off early on with the SOX trimming 3.7% of its value to start the day. Technology weakness is broad based with no real buy interest evident to begin the day. The only notable pockets of early strength are energy related with both oil and utilities bidding higher. NYSE Adv/Dec 742/1338... Nasdaq Adv/Dec 656/1692.
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