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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: d. alexander who wrote (23840)	9/29/1999 11:05:00 PM
From: Johnny Canuck	Read Replies (2) \| Respond to of 68177

Hi Dorothy, If you can get them, I am looking for the 5 and 30 minute volume numbers for the SOX, BKX, COMPX, IIX and SPX. I can estimate the other time frames. Essentially, what I am looking for is the rate of the acceleration in the volume in relation to the movement in the indices. Huge volume acceleration in the last few minutes of trading can indicate wholesale panic as trader try to get out at all cost if the index moves down. For strength you are looking for an acceleration in volume as the indices rally. It has to do with the old saying that volume must follow the price action to confirm the move. Just based on the price levels on some of the strong high flyers, I don't see any indication that the bulls are ready to give up the ghost just yet, but at the same time I am having a hard time coming up with good reasons for up to go higher either. A broadening of the strength in stocks will help. If you look at the chart of T2113 you will see that an abnormally large number stocks are now trading one standard deviation below the their 200 SMA. It broke the level that we rallied from in April and the market back drop looked worse then, so some technical damage has been done. Harry