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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: J.T. who wrote (15261)12/3/2002 12:24:31 PM
From: James F. Hopkins  Read Replies (1) of 19219
 
Thanx JT; The SPX DVI is negative some today but mostly because I have AOL in it,
While the NDX "DVI" is really positive..t's down but not down as much as the NDX,
for the Dollar Volume INDEX to be negative it has to fall faster than the regular index
-----------
What we are seeing more than any thing else ( at least so far ) is some profit
taking.
Profit Taking
It shows it self clearly in the Dollar Volume index when you look
at the issues separately.
You know it's profit taking when the stocks that have gained
the most over the last month are the ones that are down the
most today
When it's not profit taking & the trend really changes
the laggers are subject to start selling off as fast
or even faster than runners.
Jim

PS the inverse is true in a down trend,
if the ones that have fallen the most rally
first ( its profit taking by the shorts )
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