>>>>Something tells me that two years from now we could still be in the same boat and I would still be hearing we are near a major market top.<<<
KY, per my link of that a/d chart, the market has topped for most issues on the nyse, amex and nasdaq in the 1997-1998 time frame.
Again we must define "major market top"? Which market? Which index?
The fact that most people are now calling the nasdaq "the market" should bring out a lot of skepticism, but it hasn't.
The nasdaq is dominated in market cap by about 10 stocks, so now "the market" is down to about 10 stocks.
The bears have been wrong on the market indexes, but even now they are starting to lag behind, starting with the transports & cyclicals which topped May, drugs in july,, the nyse which did not go to a new high in this last leg up from october, the spx, oex, and dow which did not go to a new high to confirm the last leg up in the nasdaq.
b |
