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Strategies & Market Trends : P&S and STO Death Blow's
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To: Lone Ranger who wrote (4266)7/26/2002 11:11:10 PM
From: Justa Werkenstiff  Read Replies (2) of 30712
 
LR: It looks like the SPX has "bottomed" for now. I closed out retirement account SPX shorts on the low and went long same. Otherwise, still flat.

But there is something wrong with the Nasdaq, NDX and it goes beyond the Sox issue. I do not see the same bottom in the Nasdaq and NDX.

1. No VXN spike that would indicate short term resolution..

2. Triangle consolidation with decreasing volume the past few days which suggests a continuation of the trend which is down.

3. BOCOMOQ does not seem to have bottomed.

4. BPNDX seems to be topping and/or rolling over.

5. No leadership in tech. Either confusion or down on many big caps.
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