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Strategies & Market Trends : Galapagos Islands

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To: Jorj X Mckie who wrote (37444)4/22/2003 1:09:56 PM
From: SusieQ1065  Read Replies (2) of 57110
 
Jonathan Levinson 4/22/03, 13:07:11
James, the VIX has deviated farther from its 200 dma than it has at other times, even when under 20, and by that measure, equities are topping now. I'm recounting this anecdotally because I don't have the details in front of me. The COMPX is not at its year high, but it sure looks like it's aiming for one. All I see is that complacency is at peaks normally associated with major market peaks. The NDX:VXN ratio, which I saw somewhere, is echoing this position. The market can go much, much higher, but the odds do not favor it based on what I follow. The wildcard is whether Toshihiko Fukui and Al Green have other plans for us.
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