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To: steve from ihub who wrote (115923)4/2/2005 11:56:14 PM
From: Shack  Read Replies (4) | Respond to of 209892
 
Steve, in general I agree. I've followed this indicator from the start of the bear in 2000 so I'm not new to tracking Rydex in a declining market.

The negative divergence at the top of the SPX is the key. These traders should be exuberant at the top, not skeptical. I still say that chart is market bullish.