Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Michael Watkins who wrote (44182)	3/13/2001 5:25:19 PM
From: Patrick Slevin	Respond to of 44573

I keep a weekly chart as well. Also, I have the 200 period ma's on the charts as well for the same reason. Dow hasn't been dropping like the other two, until yesterday anyway. I kept relative charts where the performance of the NDX relative to the DJIA, the SPX relative to the DJIA, and so on are plotted. Funny thing is not only how strong the DJIA relative to the SPX and NDX the DJIA is, but how strong the Russell is to the other two as well. It often helps when day-trading these days. The DJIA gets strong and drags the SPX. I guess the SOX is having a similar effect on the ND but it's very evident in the SPX, DJIA relationship. Looking at your weekly SPX, that drop yesterday/today almost completed the full 61.8% fib retrace, if I recall correctly, from late 1998. I would have felt better if the retrace completed today but it fell shy by around 8 points. Dow busting 10,300 probably got a few people nervous as well. That I would like to drop into the 9,000s before I felt better with it.