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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?


To: IQBAL LATIF who wrote (31397)5/9/2000 12:23:00 PM
From: James Strauss  Read Replies (1) | Respond to of 50167
 
Thanks Ike...

3584 is Envelope Channel light support... It dropped slightly below that today to 3580... New Lows on the Nasdaq is hinting at more bottoming to come:
finance.yahoo.com

But there is some good news... Bearish sentiment is in the upper 50% range... lowrisk.com

The last time that happened the Nasdaq rallied 22%...

Note the relationship of prices to volume...
chart.bigcharts.com

When the Nasdaq volume is above its 50 day MA prices tend to rise... When below it, prices tend to be flat or drift down... Right now, volume is below the 50 day MA...

Jim