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Strategies & Market Trends : Ask DrBob -- Ignore unavailable to you. Want to Upgrade?

To: Bobber1234 who wrote (268)	8/19/2000 4:16:50 PM
From: Joseph Silent	Respond to of 100058

Bobber and Bcrafty .... I think we need to be careful about that interpretation. It is not the level per se that is important ... it's not as simple as that. It's the implications of the level and the change in direction. If you look at the chart carefully, you'll notice that it has a direct inverse relation to the OEX and indirectly to the Nasdaq. That means when it goes down the others go up and vice versa (not always, but as a rule). There is nothing to preclude it dancing around in this range (low volatility) while the Nasdaq keeps plugging upwards slowly. Will this surprise a lot of people? Yes, but the market is in the business of surprising people. You have to start to be concerned when it turns and heads to higher values consistently (meaning it has bottomed, the market has a near term top) ..... that will suggest we start to go down... but to where .... no one knows.