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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 671.91

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Nov 14 4:00 PM EST

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To: HairBall who wrote (12794)	5/4/1999 9:09:00 AM
From: Terry Whitman	Read Replies (1) of 99985

Perhaps Richard Russell is only justifying his position. We are all human after all. <g> The following data makes me think he is right however (Note in particular the highlighted data): Bull Peaks ---------- NYSE Adv/Dec Line: 8848 (04/03/98) 7502 (03/11/97) 6985 (05/22/96) DJIA 50 Day MA: 236 (11/14/96); 369 (06/13/97); highest since 11/82 DJIA 200 Day MA: 165 (06/20/96); highest since 09/87 DJIA at 22% above its 200 DMA (05/03/99); highest since 04/87 DJIA at 19% above its 200 DMA (07/30/97); DJIA P/E ratio: 27.4; earnings $401.73 - dividend yield < 1.5% S&P 500 P/E ratio: 35.9 earnings $37.71 - dividend yield < 1.3% <eom>

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