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Strategies & Market Trends : The Stock Market Bubble

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To: Les H who wrote (743)	7/19/1998 9:04:00 PM
From: bobby beara	Read Replies (2) of 3339

>>>This market thus far is not that different from early February of this year. .. . .driving higher as in most early parts of bull runs.<<<< Les, Dare I say this time is different -ggg- Take a look at the divergence between the a/d line, summation index and RSI on the Nasdaq and NYSE between now and the 4/22 peak. and make a comparison in the items to the beginning of the bull runs in april 97 and Feb 98. On the outside (which is what counts to the image is everything bulls) the market looks hot, but under the hood this is one sick puppy. This is a mega-cap liquidity blow-off. In previous bull initiation runs we had broad market participation (which you may notice diminished from the 4/97 run to the 2/98 run and now has gone kersplatt) Lots of high flyers I've been charting look like they had blow-off tops last week, the few I see left with some gas left are MSFT, CSCO, KO, YHOO and a few others. We are close to a peak, IMHO. bwdik, bb

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