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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: Killswitch who wrote (11230)3/17/2002 5:36:15 PM
From: nsumir81  Read Replies (2) of 19219
 
DOW a new high? When did that happen? Even if it were to happen, the broader market would need to confirm and follow AND stay there.

Money has rotated from one set of stocks to another. The NAZ has remained depressed in favor of the DOW and 'older' type stocks, relatively speaking.

Remember, just 2 years back, they said the DOW was an index that had become irrelevant (or less relevant) in relationship to economy which had changed character considerably since the inception of the DOW, or at least relative to its predominant and slowly-changing composition.

So even a new high in one of the indices, if it were to happen, would not necessarily make it a bull market imo. It could sure make one feel bullish, though.
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