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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: Vitas who wrote (38089)7/19/2002 5:24:36 AM
From: bearshark  Read Replies (1) of 52237
 
Vitas:

Yesterday's failure was set up before noon. Advancing NYSE volume never had a chance of overcoming declining volume. The poor INDU was left with its nose still above water but weighed down with lead weights. So we collapsed in the afternoon. I think the September closing lows in the INDU and TRAN are again vulnerable as a result. I continue to watch the NYSE volume to see if we have the intraday change where advancing NYSE volume catches declining volume and swamps it going away. It hasn't happened yet. If it ever does, I think its effect will be obvious.
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