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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Robin Plunder who wrote (40337)	3/13/2002 11:42:52 AM
From: Justa Werkenstiff	Read Replies (1) \| Respond to of 99280

Robin: I have looked the long term charts but what I am talking about is for the short and intermediate term. Fact is that BPOEX, BPNYA and BYSPX are making yearly highs if not more so. These readings did not peak along with the BPNDX and BPOCOMP in December/January and they are peaking now. So, all things being equal, and the Nasdaq some 10% off its highs for the move and the SPX almost hitting new highs, what does this tell us? Rotation has occurred into the broader market and this is lifting the Nasdaq. This is the opposite of what happened in December/January where tech. lead the charge. The commercials are heavily short SPX. The small speculators are record long the SPX. Trim Tabs shows liquidity decreasing in the market. Vix is making six month lows. The SPX is topping right here and right now. So, it seems the only way for the nasdaq to get any gas is to get it through rotation away from the broad market into tech. without much damage being done to the broad market as a result. Problem is the broad market is making a big top and there may not be a reason to rotate into tech. if the broader market peaks and declines rapidly. Even Don Hays has a target of Nasdaq 2250 along with posters on this board, which should not be of comfort to those posters <g> Most everyone, it seems, is in buy the dip mode on this pullback for the ride to 2250. Yet BPCOMP hit 53.15 yesterday, only three points away from prior topping areas.