Dec. 13, 1999
Now, we all know Friday's
action was not very broad, but maybe we should consider it a victory that the advance/decline line was positive. Many days, it doesn't get that far. The
New York Stock Exchange
remains moderately oversold. I say moderately because there is still a likelihood that it will get even more oversold before the
takes out its old high.
Technical Analysis: Join the discussion on
message boards. In any case, aside from the continued improvement in the financials, retailers are also showing improvement. I mentioned the
retailers a few weeks ago and would like to point out that they are again making progress. Maybe it's just their time of the year, but they have backed off on lesser volume, which is positive action. While
is still OK, it has had quite a move and should digest some of these gains. But I find that I am also jotting down
, in addition to the Gap, as bottoming stocks.
New Highs and New Lows
Cumulative Advance/Decline Line
Helene Meisler, based in Singapore, writes a technical analysis column on the U.S. equity markets on Tuesdays and Fridays, and updates her charts daily on TheStreet.com. Meisler trained at several Wall Street firms, including Goldman Sachs and Cowen, and has worked with the equity trading department at Cargill. At time of publication, she held no positions in any securities mentioned in this column, although holdings can change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. She appreciates your feedback at