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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: stan s. who wrote (100989)	4/27/2000 4:57:00 PM
From: Jack Hartmann	Read Replies (2) \| Respond to of 108040

Stan, considering the Nasdaq was lock limit at minus 110 this morning, the swing was surprising. Seeing the MACD trending up on the QQQ for consecutive days now. Look for your analysis later. Jack

To: stan s. who wrote (100989)	4/27/2000 8:49:00 PM
From: stan s.	Read Replies (3) \| Respond to of 108040

Nasdaq chart etc., big day for semis, net stocks and software. Rally was a little confined by volume but breadth was fine, advancers beating decliners 2120-1960. That's not especially important with the naz generally but gains some significance as it tries to rally. geocities.com Came within a hair of filling the gap. Probably will at some point but may not be a factor at the moment, though I wish it had completed the task.. Positives, bullish engulfing pattern trying to define 3519 as a higher bottom and could be trying to signal a reversal. Accumulation, top box progressing nicely and the lagging MACD (2nd from top)in the first day of an indicator cross buy signal. I mention that only because it's a more restrained signal than the momos...which is what you want to see here. The 6 over 10 (green over red) weighted ma continues to look good here but is early and can be deceptive. Any gain tomorrow pops the naz over that downtrend line and 3832 offers some minor straight line resistance. It doesn't have to do this all at once, we should be pleased to simply put in a higher bottom but....the chart is trying to spell rally. Downside, the volume was poor and my guess is this was mostly retail, we'll have to wait and see if institutions start to step in. Caution is still the watchword and I'm playing it as such, you can see from the chart that 2 prior rallies failed so we're not out of the woods yet by any means but this is the best it's looked in awhile. A better test will be to see how it handles bona fide resistance. Stan