MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.03

+1.0%

Nov 21 4:00 PM EST

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To: Compadre who wrote (12168)	4/28/1999 10:41:00 AM
From: HairBall	Read Replies (2) of 99985

jaime choy: The DJIA went to new highs on increasing volume. On the surface it look good. But in looking at the OEX and the SPX, they did not participate, and there were signs of distribution. The NAZ was also losing I have said it before, but I believe it is worth saying again. The OEX/SPX contains elements of both the DJI and the NDX. When they skew the OEX/SPX will fall in the middle with a DJI bias depending on the divergence of the DJI and NDX. IMO the OEX/SPX are NOT leading indicators. I post the SPX on my chart page only because others find it of use. If I were to use it, it would be as a smoothing indicator being most valuable when the Market is moving more in unison. And, of course if you are investing in an S&P fund or trading options, futures, etc. Regards, LG

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