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To: Robert Graham who wrote (16214)	5/30/1998 1:27:00 PM
From: jjs_ynot	Read Replies (1) \| Respond to of 67839

Interesting that the SPX as the broadest measure bounced up near an MACD of zero three times over the last month before a final penetration this past week. It will be interesting to see what this indicates over the next several weeks.

To: Robert Graham who wrote (16214)	5/31/1998 11:33:00 PM
From: Thomas C (Hijacked)	Respond to of 67839

Robert, I am a bit confused on your last post... >>>The divergence you are talking about with the MACD moving down ahead of the price is a type of divergence that is not that significant in this market.<<<< I have looked at the chart a hundred times for the Dow, Nasdaq and Russell. The only thing I see with the MACD Histogram and Prices is rising prices with a declining slope in the MACD Histogram. Which is exactly as you describe in your first sentance.... Am I missing something? Tom