Three indexes at "milestone #'s,and the crowd is coming back from lunch,should be interesting.

Dow 11,000 S&P 1,400 NDX 4,000

-- James (brkthru@cableone.net), February 01, 2000

Answers

Isn't that special!

The coincidence of those neat round numbers parallels my observation of "bounce-off"levels of same indexes.

How can this occur if these indexes are computed from individual stock prices?

Is the herd controlled by perception? If so, who is controlling?

-- W (me@home.now), February 01, 2000.

And don't forget, the Russel 2000 @ 500!

-- Duke1983 (Duke1983@aol.com), February 01, 2000.

How perfect! At 14:43 the numbers look like this:

dow jones industrial average 11001.03

nasdaq 4003.98 s&p 500 1400.48 russell 2000 500.88

-- Duke1983 (Duke1983@aol.com), February 01, 2000.

""Isn't that special! The coincidence of those neat round numbers parallels my observation of "bounce-off"levels of same indexes. How can this occur if these indexes are computed from individual stock prices?""

It really very simple -- the BIG "boyz" that move huge blocks of a great many stocks around use the indexes' support and resistance numbers to trigger purhcanses/sales. When this is done at "wholesale" levels the market indexes tend to turn at this key points. Only when the expectations for greater moves up/down are present do the indexes move through these key "price points". If you chart the indexes market the charts with 1 - the round numbers 2 - the close of the previous day/week (depending on how short term you chart the indexes) AND 3 -- key support/resitance (previous turning points) prices from the longer term charts. You will see the market's turn most often at these points in a very repeatable way. One additional note, one turning point of one index can affect the movement of all three of the major indexes. Need to watch all three.

-- Jackson Brown (Jackson_Brown@deja.com), February 01, 2000.

Thanks, Jackson,

That makes the most sense. Looking at SPX from April 99 through Nov and then from Nov to Jan 2000 clearly shows those levels. W

-- W (me@home.now), February 01, 2000.