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

To: Justa Werkenstiff who wrote (45007)	3/28/2002 6:08:18 PM
From: Zeev Hed	Read Replies (6) \| Respond to of 99280

Actually, longer term the divergence is positive, we are some 250 Naz points under the January highs, but more stocks are making new highs, meaning there is "stealth strength" in the Naz not reflected by its leading indices (NDX and COMP). Of course, when you got into a top, you will often find that despite the fact that the indices are printing new recovery highs, the new lows expand and new high contracts, and that is the kind of divergence I am looking at at tops (that phenomenon, together with few others, was what gave me a hint that the May 22 nd top last year was "it". We still had few run ups, but each run up resulted in fewer new highs. Here we have a "run up (barely) and already the new highs exceed those achieved when we printed the January indices high. Zeev