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Strategies & Market Trends : Sharck Soup -- Ignore unavailable to you. Want to Upgrade?

To: Softechie who wrote (30691)	7/11/2001 10:30:52 PM
From: Electric	Read Replies (1) \| Respond to of 37746

I dont think we are out of the woods.. In the back of my mind I get the feeling this move wont take us dramatically higher, for some of the reasons I was debating with that wimp earlier today. What will be a telling sign to me is how the market advances tomorrow through the day...do we have a HOD within the first 15 min? If so, then we are not finished..if we keep making new highs intraday and we finish the day at or near the highs then we can say this is a step forward. One thing I like quite a bit is that the biotechs have been beaten up and are down, they seem to be a needed group for the NAZ to proceed to any degree. I will have a better feeling tomorrow afternoon, but I cant say I am wildly bullish after watching bids being pulled for the last week and declining volume swamping advancing..specifically in the optic sector.. I did NOT see a test of a bottom, in fact we barely filled the April gap up and didnt really do it convincingly, so technically this would not be a test, it is right in the middle of several technical levels...I thought we would move below 1900 before a move higher that lasted for more than a session or two.. What would be a huge kicker is if the FED did the right thing and swallowed their pride and eased 50 basis points tomorrow..