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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

+1.0%

Nov 21 4:00 PM EST

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To: donald sew who wrote (8176)	3/15/1999 9:17:00 PM
From: Zeev Hed	Read Replies (2) of 99985

donald, unfortunately all the statistics are on the last 9000 DOW points, I would like to remind every one that last time we added a digit for the first time (from 3 digits to 4) was 1966, and we did not break the range of 575 to 1050 for 16 years thereafter (October 1982). I fear that breaking this new world of 5 digits will meet with a similar fate. Here we are within shouting distance of 10,000 and we have 63 NH vs 77 new lows, and 1529 adv vs 1436 declines. On the NAZ there are actually more declining issues than advancing one and of course more new lows than new highs. I do not think it will take 16 years to break the logjam, but 5 to seven years of ranging markets is not impossible. It will let earnings actually catch up with the current prices. Zeev Zeev

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