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Strategies & Market Trends : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?

To: sun-tzu who wrote (29346)	3/17/2003 8:36:28 PM
From: augieboo	Read Replies (1) \| Respond to of 30712

The best argument I have seen is the relative weakness of the Naz AD line, and that's not a strong case. I agree. The COMP has been the center of the Mo-Mo universe for so long that a lot of folks forget that its total market cap is dwarfed by the NYSE. The $SPX is the major index to watch and the $BKX the major sector. The Naz is now the red headed step-child. I think you're absolutely right -- the $SPX has not been hit nearly as hard as the Naz, so we should expect it to take leadership -- both down and up -- at some point during the bear. And whenever we have the first real cyclical bull within the secular bear I will not be surprised at all to see the SPX/BKX leading it.