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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Sully- who wrote (39694)	8/2/2001 12:37:51 PM
From: Sully-	Respond to of 65232

From: Drbob512 Thursday, Aug 2, 2001 12:16 PM *** TA Update (intra-day) *** The market internals are neutral to slightly positive, which is not alarming for bulls, as long as one of the next two days is a rally day. So we need either a strong close today (which probably results in Friday profit-taking), or if we are down today, then a strong Friday, to keep this technical rally going for several more days next week. The Nasdaq TRIN is a .61, with stochastics crossed up, after having such a low reading yesterday. The a/d is 1/1, up/down volume 5/3, on overall volume of 800M which projects to around 1.7-1.9B shares. The NYSE TRIN is 1.15, with a/d of 4/3, up/down volume 3/2, on volume of 700M shares, so volume here is heavy for this time of day. Nasdaq reached 2102, so it surpassed the resistance of 2080 as expected, and now it is desireable for bulls for it to hold above both 2080 and the psychological resistance of 2100 by the close, or at least above 2080. The momentum appears to be up for the next week or so, and then we shall see how the technicals line up.