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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Doo who wrote (42312)	3/5/2000 7:13:00 PM
From: pater tenebrarum	Respond to of 99985

Jeffry, of course i follow II as well, and i agree with you that the poll did not confirm the most recent Dow/NYA bottom. one has to take that with a grain of salt though...as everybody else, the advisors are also increasingly fixated on the Nasdaq. i found it interesting that the (so far) all-time high in the Dow was accompanied by a secondary high in bullish advisors %. this has been a very negative sign in the past. well, the Dow subsequently did have quite a decline, but it seems unlikely to me that that was all. btw, i compared the NAZ monthly chart to other historical index charts, and it seems truly unique. the suspension of disbelief that people need to buy this index now suggests to me that the 'Prozac theory' of the market may indeed have some merit. i don't know if the link has been posted already, if not, here it is: slate.msn.com