Dennis- While for some technicians piercing the 50 DMA would be a fairly significant cause of concern, let's compare it to what is going on in the overall market: Huge money inflows, broadening of the market (successive rallies, also, in oils, financial, consumer durables, etc)..small cap index up, NO inflation...including wage inflation, great earnings from techs, transport close to confirming old highs..
Oh yeah, and EMC is singing the same song as before..no change, not even for Y2K...
Under these circumstances, I can live with a problem with the 50 day DMA....There are other technical and fundamental strengths in this market (some listed) that make me feel good going forward...
(Oh year, did I mention, lack of confirming data of Y2K hardware slowdown...)
I'll take current conditions anyday...money will be back soon.. |
