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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (36983)	5/10/2002 12:04:32 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69795

[madtrader] Fri May 10, 7:11am PDT $MID.X $SML.X $OEX.X The small and mid-cap names have been leading the market thus far this year. But both indices are showing signs of fatigue. During the massive run on Wednesday, these two groups lagged the performance of big cap, particularly the tech names. From the looks of things yesterday and today, they have given back all of their Wednesday's gains already. I have suggested 3 weeks ago that we are about to see a rotation out of the smaller names into the large caps. I was off, since all three groups went lower. But I do believe we are seeing just that right now. Much like the early part the post 9/11 bounce. Tech related large caps lead the way. What is also interesting is that on my screen of 100 high growth high relative price performers of small and mid cap names, the advance/decline ratio has been negative this week. They were doing much better in the prior 3 weeks. So this is further evidence that traders are taking their profits in these names (EXPE, FRED, TUES... to name a few) and switching into the beaten down techs. The real question is how sustainable this rotation is. none. [madtrader] Fri May 10, 6:58am PDT QQQ Broke the 30.60 level, so it will have to retest the Wednesday opening level after all. non