MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 665.67

-0.9%

Nov 17 4:00 PM EST

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To: John Madarasz who wrote (68725)	2/8/2001 3:21:42 PM
From: Doug	Read Replies (1) of 99985

John: Thx for those charts. As you can see 1999 was the best year for GDP. It seems logical that the market valuation i.e P/E of the NDX for 99 should be a ceiling top . The P/E for the NDX is still high today and needs to shed 20-30% to match current earnings and 99 P/E's. Between now and end March there has to be some fuel to keep the Compx going. In the abscence of any propellant, the NAZ is likley to retest the low and possibly make the required correction. That would realign the two markets. Till that happens, it may be better to trade with due stop loss protection.

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