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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: James Strauss who wrote (26878)	8/6/2000 4:05:58 PM
From: AllansAlias	Read Replies (1) of 42787

James, You are probably looking for trouble if you follow the notion that "It is evident that new highs on the Utility Index tend to precede advances on the S&P 500...". The utilities has broken to new highs before when the market has gone down shortly afterward. Depending on your timeframe, you will be whipped to death. This sort of analysis is very difficult to do properly and leads to many head-fakes. If it were not so, then it would be the holy grail. Many people have looked at new highs, new lows, and divergences between utilities and the overall market. The timeframe for doing so is usually months, not a few days. Let's wait and see if the utilities breakout is real. If the utilities move carries through for another week or two, I will really begin to listen to it. In general with this sort of analysis, what is more significant is when the overall market makes a new high or low and it is not confirmed by some secondary index like the utilities or the value line. I have found that to be more useful. The following is related: Message 14171197 Cheers --Allan

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