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Looks like you are comparing the NYSE breadth to the DJIA rather than the
NYSE composite which might provide a better feel. I haven't performed my EOW
analysis yet, but I did do some quick scanning through my charts and models.
My very quick take is that the DJIA is very weak, the NYSE weak, S&P500
barely managing, Ru2000 doing ok, NASDAQ is strong. The NASDAQ breadth
models are strong and the NYSE models are rolling over. I suspect that early
2001 is looking like the mirror image of late 2000 ... NYSE pulling the
markets down and NASDAQ pushing the markets up ... with more of the same
whipsaw effect in the S&P500. The bad news has really piled on the NASDAQ,
which seems to have become somewhat immunized against bad news; while the
bad news cycle may just be getting going on the NYSE. Not that I think the
NASDAQ is going to return to former glory, but I do think the rally has more
legs. The volatility in the S&P500 could remain high due to continued
return-chasing sector rotation.
Just my current gut feel for the markets.
Earl
----- Original Message -----
From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxx>
Sent: Saturday, January 13, 2001 9:22 AM
Subject: [RT] Mkt - INDU
> Overlaying the end of day cumulative net volume(EODCV) on the DJIA shows
> that while the DJIA was able to rise above its 200 day exponential moving
> average the EODCV has only risen to its 200 day XMA. The The DJIA has
> closed below its average accompanied with a deteriorating new highs - new
> lows.
>
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