Jim's Nasdaq100 Special as a basket. Message Board

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Strategies & Market Trends : Jim's Nasdaq100 Special as a basket.

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To: Benkea who wrote (1042)	8/8/1999 10:47:00 AM
From: chartseer	Read Replies (1) of 2103

Hi Benkea! My reason for posting the NYSE Composite chart was in relationship to my DJIA relative strength PnF chart based on the relative strength of the DJIA compared to the NYSE composite. With PnF charts you need to have another vehicle to offset the fact that PnF charts are most bullish at the top and most bearish at the bottom, that being a relative strength chart. I chose the NYSE composite being all the DJAI are listed on the NYSE. In this case the DJIA PnF 100 point per box( or the PnF chart of DIA) has reversed to a column of O's while the relative strength chart base on the NYSE composite went higher into record territory. In this case I do not believe it is indicating that the DJIA is going to go higher since the DIA PnF chart just reversed in O's. What I believe it is really indicating is the weakness of the NYSE Composite which seems to have fallen out of bed the past few days. Is this just a flight to quality, to over priced quality, or is it something else? If so what? All this divergence is making me even more paranoid than usual. Any opinions anyone? then again what the heck do I know? chartseer

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