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Strategies & Market Trends : Raptor's Den II

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To: ajtj99 who wrote (174)	4/17/2003 6:55:43 PM
From: Justa Werkenstiff	Read Replies (2) of 3432

Here is the way I see it. NDX 1099 HOD on March 21: VXN at 47.175 daily average. NDX 1091 HOD on April 7th: VXN at 41.03 daily average NDX 1085 HOD on April 17th: VXN at 36.61 daily average. We drop 13% on the VXN from March 21st until April 7th and we make a lower high. We drop 11% on the VXN from April 7th to April 17th and we make a lower high again. All said and told, we have dropped some 22% on the VXN to historic lows and still can't make a higher high on the NDX. That is the trend and if it continues <g> we could drop to zero on the VXN and still make lower highs on the NDX. If this were reversed and the VXN kept making higher highs and the NDX made higher lows, I would be bullish as one can get. As it is, the opposite is the case as we make lower highs with increased complacency. How anyone can view this as bullish is beyond me.

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