Replies to post #3975 on The Black Box

[Myself °¿°]

How about...YA CAN'T GIVE BONDS AWAY:) Q...Where was the money going when the bonds sold off? A) Hesitation in rotation? Q...Is it me or is that an inclining channel on the NDX 60min chart?
http://www.investorshub.com/boards/read_msg.asp?message_id=1262072
http://www.investorshub.com/boards/read_msg.asp?message_id=1272742

[Chris McConnel]

From Realmoney.com:

The Program-Trading Effect
Rev Shark
8/04/03 02:52 PM EDT

Program-selling was blamed for pushing us down, and it now looks like a big program-buyer is pushing us up. There is talk of a large firm actively buying the S&P futures. Once they get them running, that triggers the buy stops and shifts momentum. Breadth has improved, but we still have 3,700 losers, which helps confirm that idea that this is a futures-driven bounce rather than widespread "dip buying."

One thing is for sure, the bears have to be frustrated. It looked like a technical breakdown was at hand, but we are now back up over the critical levels, and the selling pressure has dissolved.