Conflicting Themes

• October 25, 2002
• Don Miller

Conflicts are the
themes of the early morning as strength
in the techs is being offset by relatively less strength in the broader markets
and traders battle between a daily uptrend and hourly downtrend which typically
results in a bit of market chop. 

Aside from volume related to the
knee-jerk morning economic reports, trade has been on the light and illiquid
side this Friday morning, which has made lasting range extensions rather
difficult, although both markets have shown some late-morning strength, which
bears watching heading into the afternoon

Given the time conflicts and light volume, caution may be the theme of the
afternoon as traders close up a nice week of opportunities and regroup for
Monday.

ES (S&P)         
Friday October 25, 2002  12:00 P.M. ET            NQ
(Nasdaq)

Moving Avg Legend:
5MA
15MA 60-Min 15MA

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2002 Quote LLC

Good Trading and Have a Great Weekend!

Don Miller