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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Mike M who wrote (7759)	11/24/2001 5:04:41 PM
From: ajtj99	Read Replies (2) \| Respond to of 99280

Mike, some individual SOXX have not broken down, but MU and INTC are close. TXN is broken, AMAT is broken, and the few that I looked at all peaked 10-days ago. That kind of tells me that they're not participating anymore in a rally. Without the SOXX, this rally is done with, IMO. INTC is quite overbought also, so it may also soon join the others that have fallen off the gravy train. Over 2-weeks ago we made a high of 1888. We closed Friday at 1903. 2-weeks and 15-points are not what I'd call ammo for a rally from here. I believe it is most likely distribution at this point.