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Strategies & Market Trends : Classic TA Workplace

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To: augieboo who wrote (47955)	7/29/2002 9:10:22 AM
From: bcrafty	Read Replies (1) of 209892

augieboo, when you say "we can't have a good rally unless everybody goes along, and the naz just isn't ready to go to the party" I'm not sure if I completely agree. Some Dow components have already started the party, as GE is up 20% from its lows Wednesday. The major indices don't necessarily have to move in sync for an IT rally, as the Dow can start the party early with the naz catching up later as happened in March '01 where the Dow's rebound preceded the naz' by at least 2 weeks. The $VIX highs also preceded the $VXN highs for at least two weeks at that time. I'm now thinking that unless we get some piece of major bad news this week the Dow will not breach its lows from Wednesday anytime this week.

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