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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: TREND1 who wrote (25621)	12/6/2001 12:04:27 PM
From: Vitas	Read Replies (1) \| Respond to of 52237

The explanation is at the bottom of the SPVI chart at the website which I linked. Here's what it says: "The S&P 500 Valuation Index or SPVI uses the S&P 500 current dividend and trailing earnings yields together with the yields on the 91-day T-bill and 90-day commercial paper in an indicator for determining whether the S&P 500 is over-valued. The relationship of yields is as follows: SPVI = (S&P 500 dividend yield + earnings yield) / (91-day T-bill rate + 90-day commercial paper yield) The resulting figure is adjusted by a constant so that 100 = the average for the period 1996-1995." martincapital.com