MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: Terry Whitman who wrote (17178)	5/29/2003 12:36:44 AM
From: Dan Duchardt	Read Replies (1) of 19219

There are two things that contribute to a strong rise in New Highs: One is a rising market in current time. The other is a market falling precipitously 52 weeks ago from levels above where the market is now. Both effects are in play right now, and the dominant effect is still how hard the market was falling last year at this time. It's no surprise that this combination is dramatically pumping up the rate of New Highs. We'll see if it continues once the indexes break into 52 week high territory in a few weeks, assuming they make it.

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