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Strategies & Market Trends : The Millennium Crash
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To: Haim R. Branisteanu who wrote (3666)10/10/1998 3:53:00 AM
From: set  Read Replies (1) of 5676
 
re: some notes about DJX vx. SPX & OEX

It's been noted that the dow is holding up in the face of
declines in other indices. I just noticed that while the
oex and spx have been riding along on their 400 DMAs, the
dow has been riding its 600 DMA, which line has been rock
bottom support so far. In this one respect, the dow has
actually been weaker - not in absolute relative strength
but in relative stability. In other words, the dow went
thud, breaking the 200 and 400 DMAs in one move. The move
was smaller on an absolute basis only because generally lower
volatility has those lines closer together than they would be
on the other indices. But in this curious way, the move
was bigger, and the dow is actually underperforming.

It will be interesting to see how these very long term
moving averages perform when this thing is all played
out.

OEX:
bigcharts.com

INDU:
bigcharts.com
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