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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: ajtj99 who wrote (28857)9/27/2001 9:11:31 AM
From: JRI  Respond to of 30051
 
Thanks for your thoughts..

Gapping below that 1457 is a problem, for, obviously, not everyone joined the rally at 1387, so falling into that gap puts a ton of pressure on those longs..

One other thing to look at: MSFT, CSCO, Soxx all very weak on this past rally; gave up gains quick....Leaders aren't leading here, and better start soon...



To: ajtj99 who wrote (28857)9/27/2001 9:14:37 AM
From: JRI  Respond to of 30051
 
One other quick point: All summer, we carved out that declining wedge, that normally breaks to upside (as many bulls/bears were expecting). It failed, broke down, and caught some off-guard.

If this thing doesn't rally strong today, or really this morn, I'd say its another failure...

This bear is apt at catching both bulls/bears leaning wrong-way at certain times..this may be one, for definently, some bears are/were playing this long, expecting big up yesterday or today at latest..


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