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Strategies & Market Trends : Technical analysis for shorts & longs

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To: j g cordes who wrote (19890)	2/14/1999 9:44:00 PM
From: Gary Martin	Read Replies (1) of 70358

jg, It's a bit more complicated than that. If you compare the 50-55 large cap stocks that represent the preponderance of the SPX's movements with the DOW 30, you would see the difference is represented by high techs(i.e MSFT, INTC), Therefore, if the techs drop, the SPX/Dow spread will gain in favor of the Dow and vice versa. This can be very useful in placing the 3 Dow futures vs 1 SPX future spread position. (Which was recently about $32,000 SPX over Dow.) I'll start watching the NDX channel you suggested on Tuesday. Gary

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