aiki14
11-02-2006, 01:18 PM
From the Dow Jones news wire a few minutes ago:
12:14 (Dow Jones) After rallying to new recovery highs on Oct. 26, the
Russell 2000, S&P Mid Cap and S&P Small Cap Indexes quickly reversed course,
and over the next three days, dropped sharply, falling below near-term support
levels yesterday, notes Richard Dickson, strategist at Lowry's Reports.
"Failed breakouts such as this are termed upthrusts, and when followed by a
decline that falls below support, generally denote a topping pattern that
frequently leads to a short-to intermediate-term decline." Chances seem good
that the decline will persist until short-term momentum indicators for these
indexes reach oversold levels, he said. (AAC)
12:14 (Dow Jones) After rallying to new recovery highs on Oct. 26, the
Russell 2000, S&P Mid Cap and S&P Small Cap Indexes quickly reversed course,
and over the next three days, dropped sharply, falling below near-term support
levels yesterday, notes Richard Dickson, strategist at Lowry's Reports.
"Failed breakouts such as this are termed upthrusts, and when followed by a
decline that falls below support, generally denote a topping pattern that
frequently leads to a short-to intermediate-term decline." Chances seem good
that the decline will persist until short-term momentum indicators for these
indexes reach oversold levels, he said. (AAC)