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Strategies & Market Trends : The Stock Market Bubble
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To: Terry Whitman who wrote (763)7/21/1998 11:15:00 AM
From: Les H  Read Replies (2) of 3339
 
The High Jump Indicator (sum of differences of price from 17-day moving average, 50-day moving average, and 200-day moving average) for the Nasdaq is equal to the peak seen in each of last February, last March and last April. The Dow, as you state, has more room. The Nasdaq and Dow reached these peaks in variance from the mean four and three times, respectively, in the last run. Usually, the market takes a breather at that point. The market will likely do one of three things:

1) move a little bit higher;
2) fall back about 4-5% to its trend such as AIQ's 28-day MA; or
3) fall further a total of 7-8% to the lower band.
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