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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.21

-1.1%

Nov 6 4:00 PM EST

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To: Michael Watkins who wrote (41590)	2/27/2000 7:27:00 PM
From: Walt Deemer	Read Replies (2) of 99985

Michael: Fascinating! Here's a chart of the NYSE Financial index since 1986 to show you an even longer-term picture: 4w.com It's plotted on a semilog scale with a simple 150 day m. a. (The NYSE Financial index includes insurance stocks, etc., as well as banks; some think it's an even better reflection of the nation's financial system than the BKX.) I'll let you (and others) draw your own conclusions about just how bearish that failure to better the 1998 high is. -- Walt Deemer

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