Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: westpacific who wrote (61821)	5/4/2002 8:58:12 PM
From: westpacific	Read Replies (1) of 99280

This Index that just broke has 8 DOW components!!! Again this is the first VMA break since September lows - this is MAJOR significant IMO, if it holds under this VMA line. Last week it set up a 3 method failure ending on Friday. That failure occured with a rally attempt break out and did not. KO - PE 37 DIS - PE 44 JNJ - PE 33 MO - PE 13 MCD - PE 23 MRK - PE 17 PG - PE 41 WMT - PE 38 What is real intresting with this Consumer Index, we have had the technology components of the DOW getting slammed, now is this sector next. In addition my take on the banking index also shows a top: This Index is only 85 points from its record, historical ALL TIME HIGH!!!!! This sector is massive overbought right now, a failure within the next week is one more indicator of DOW failure, it tested the VMA last week and held. AXP - PE 40 BA - PE 17 C - PE 15 These two sectors make up 33% of the DOW!

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