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Strategies & Market Trends : Galapagos Islands

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To: Jorj X Mckie who wrote (11273)11/5/2002 2:36:07 PM
From: bramble88  Read Replies (1) of 57110
 
My general sense of what the market is going through right now is a rounding top. Friday's break seems to have failed and I would expect a return to the rounding top pattern. That is my bias. A couple of things that might support that are:
1. Fed liquidity injections; as long as they keep coming, the harder drops will be cushioned.
2. Sector rotation: we have had a lot of that over the last week, and I think it is the kind of thing that can keep going on for a while; when it stops a more definite down-trend should resume.
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