Ask DrBob Message Board - Msg: 18166230

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Strategies & Market Trends : Ask DrBob

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To: Drbob512 who started this subject	10/28/2002 3:11:02 PM
From: Drbob512	Read Replies (1) of 100058

*** TA Update (intra-day) *** The markets have whipsawed up and down and are currently down modestly. The Nasdaq a/d is positive at 16/15, with up/down volume 19/21, on very light volume of 1.3B shares. The NYSE a/d is 1/1 as is the up/down volume, on very light volume of 1.1B shares. The markets might just be correcting a bit and the technical indicators will be less positively extreme after today's data. The market never goes straight up or straight down, and if it is in a toppy formation, it will take a while for it to work off its excesses and to weaken. The current rally appears to have more in it or at least to fight off any declines with dip-buyers. But the longer term downtrend has not been invalidated to this point in time, in all probability, if one looks at weekly and monthly charts.

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