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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Cynic 2005 who wrote (4684)	9/24/2001 12:56:12 PM
From: John Pitera	Respond to of 33421

Depth on the Bid Side means that there are a larger number of orders on the buy side and/or the buyers are offering to buy bigger quantities of stock than the sellers. Market internal ratios have changed relatively little from early levels with down volume outpacing up volume roughly 9 to 1 while the advancers are outpacing decliners nearly 3 to 1. Treasuries have drifted slightly higher as the session has progressed. SOX +5.5%... DOT +8%... XOI -1.5%... BTK +0.1%... NYSE Adv/Dec 2315/760... Nasdaq Adv/Dec 2614/925. Very impressive performance for the bulls today on Wall Street. The market has snapped back strongly today from the opening bell amid heavy volume and broad based leadership. By nearly every measure the market was deeply oversold (Dow lost 8 in a row, -14% last week/Nasdaq down 9 out of 10, -16% last week) with much of today's performance tied to bargain hunting. In a way the action is merely an inversion of trade over the last few weeks.