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To: dbernet who wrote (20518)12/29/1998 8:59:00 PM
From: Zeev Hed  Read Replies (1) | Respond to of 25960
 
Dbernet, I think we have to look at the last few weeks retreat from 20, that was before the late tax season. Of course tax selling amplifies things, but at major resistance area, we typically get people that acted much sooner to recognize "value" and grab bargains (that is what make these resistance levels). It is possible as well to assume (but it could be wishful thinking to some extent) that the "professionals" are mostly on holidays this week, and thus the true accumulation and distribution levels of those professionals is temporarily "suspended". It could be, but I would not bet on this.

Zeev