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Started by pkamm, 05/19/2003 04:00PM
Posted 05/19/2003 04:00PM Opening Post
Okay, the S&P500 and Nasdaq both fell out of a rising wedge today. This is usually considered a very bearish event. Anyone care to share their feelings?
Posted 05/19/2003 09:11PM #1
"If your nervous over just one days events, you should not be playing."

No one gets nervous from one days events. It is merely the larger context in which that day occurs that makes one nervous. ;-)

Nasdaq's peek over the red line has fallen back and is yet to be confirmed by either the S&P500 or the Nasdaq100. What is really odd is that the Naz100 isn't even close to the Nasdaq Comp in this regard. I'll try to post a chart illustrating it when I have a chance. This may be in part due to multiple stock de-listings putting an upward 'survivorship bias' on the Nasdaq comp causing it to advance more than a fixed-stock index. Below is the S&P500:

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pkamm's attachment for post 67561