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Strategies & Market Trends : Shorting SPY for fun and profit.
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To: fut_trade who wrote (157)9/14/1999 7:12:00 PM
From: ed doell   of 346
 
However, there is significant divergence between the Nasdaq (Strong) and the NYSE (Weak). The Nasdaq companies now represent a significant part of the economy compared with the NYSE companies. I'm wondering now if the NYSE could enter a bear market while the Nasdaq continues to make new highs.

Thanks Peter, and I agree with your thoughts.

I'm sure that the Naz isn't immune to corrections, interest rate concerns, and currency concerns, but right now there is a clear divergence between the two markets. Recently there has also been a slight divergence from time to time between the SPX and the INDU with the SPX reflecting a weaker aggregate.

Tomorrow's behavior in the markets, particularly the SPX, will be very interesting regardless of the numbers reflected in the CPI. Particularly since it's also affected by expirations of various options.

Best regards, and I appreciate your chart work very much,

Ed
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