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Strategies & Market Trends : News Links and Chart Links
SPXL 212.36-3.3%Nov 6 4:00 PM EST

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To: Vitas who wrote (1871)5/3/2002 9:02:54 AM
From: Les H  Read Replies (1) of 29594
 
The Nasdaq-100 should ordinarily bounce after a 1-9 down breadth day like yesterday, but it's being constrained by very short-term toppy breadth in the broader indices, like the SPX, MID, and the OEX. So, I think today may be flat to slightly higher at best. TRIN is being inflated by blow-ups in big caps. Last year, it was Lucent, Juniper, and Cisco. February, it was Enron, HP, etc. Those stories usually run on for weeks and the U/D stays decidedly negative. A/D may eventually catch up at the end so that the TRIN at the bottom may be much lower, especially since one has to sell far more different issues to rotate back into the major stocks.
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