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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: Benkea who wrote (226)	6/27/1999 4:25:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 19219

Benkea, you may be right - but my favorite measure for complacency remains the VIX, and the VIX is indicating plenty of complacency right now. what i was trying to say w. regards to the DJUA was that a decline in that index does not always presage a general market decline; as the 'scared money' moves out of the utilities it presumably moves back into riskier sectors, thus helping to prop up the market. there are various schools of thought on how to interpret moves in the utilities but a look at long term charts comparing the DJUA to the other indices shows they have little predictive value. regards, hb