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On Jan 22, 6:53pm, Don Thompson wrote:
> Subject: [RT] Re: Longer Term Top? for S&P500
> One of the things that has never been discussed on RT in my
> recollection is the evidence that the NASDAQ is now the leading index
> with the S&P500 lagging. Any comments regarding money actually leaving
> the NYSE and migrating over to the NASDAQ?
> BobR's comment that a sideways SnP500 could be up for the near term,
> why? people are taking money out of it and putting it into the Nasdaq.
> Only the NASDAQ stocks in the 500 are holding the thing up. (No
> evidence.. just assuming)
Attached, is a chart showing the relative outperformance of the NDX
vs. the OEX, since 1986, using weekly data (courtesy of Yahoo!).
The chart shows the difference in %-year-over-year (YOY%) change
of the NDX minus that of OEX. OEX was chosen as a benchmark because
it has 100 big cap stocks just like the NDX, but tends to be
dominated by NYSE stocks. The divergence between the NDX and OEX
is apparent, though the chart shows that the NDX has been struggling
to further its yearly gains on the OEX. Something woorth noting,
is that in a true correction, historically speaking, the NDX corrected
back to the zero line or below.
In the message following this one, I'll attach the spreadsheet, in
the event that you want to experiment with the data further.
X-Zm-Content-Name: ndx_perf.gif
Content-Description: NDX vs. OEX YOY% Performance
Content-Type: image/gif ; name="ndx_perf.gif"
X-Zm-Decoding-Hint: mimencode -b -u
Attachment Converted: "f:\eudora\attach\ndx_perf.gif"
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