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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 684.39+0.1%Dec 4 4:00 PM EST

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To: bobby beara who wrote (72570)3/18/2001 12:09:53 PM
From: KymarFye  Read Replies (1) of 99985
 
"is the nas the market? is the dow the market? is the sNp the market?, is the nyse the market?"

That a year ago people were beginning to consider the Nasdaq to be the market was another little symptom of the larger psychosis. The Nasdaq's fabulous recent accomplishment of out-downing the Dow and the Nikkei says less about the extremity of the bear market than about the Nasdaq's true nature: It's arguably closer to being an overblown sector than a broad reflection of THE MARKET. For the same reason, however, it's reasonable to doubt any assumption that the Nasdaq will need as much time to recover as the true majors have needed after superficially comparable crashes. The Nasdaq could take even longer (or never really come back), or it could snap back (to a growth track if not to March madness highs) with surprising speed.
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