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To: Les H who wrote (11939)	3/21/2005 5:12:29 PM
From: Challo Jeregy	Read Replies (1) \| Respond to of 29596

Les, that's why I asked which index - someone I respect wrote about the spx on 2-7-05. See link, middle of page, titled "The Lull Before The Storm" He wrote - Perhaps among the key ingredients to watch for in coming weeks, would be the beginning of a deterioration in market breadth which would be the signature of a stock market moving higher, but with fewer and fewer stocks participating in the rally. To date, that process has not yet been evident and is normally a key component to a final peak. My data shows that deterioration in the nasdaq but not the nyse. financialsense.com