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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 691.66-0.1%Jan 16 4:00 PM EST
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To: Paul Shread who wrote (83878)6/9/2003 8:16:05 AM
From: bob gauthier  Read Replies (1) of 99985
 
I’m not a chartist but I do keep track of a couple basic statistics. The DOW is now at a higher level above the 200 day moving average than at any time since January 2000. The delta between the 40 and 200 day moving averages is also very high. Same with the Wilshire 5000 with the delta being higher than at any time since January 2000. I also calculate the area between the 40 day moving average and the actual value of the DOW since the last cross over (believing that the only sure thing is that they will cross over again). This area has not been this high since January 2000 (and only lower once, July through August 2002). To me these all signals a significant overbought condition. This is just my opinion. Thanks to everyone who keeps this thread alive and interesting.
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