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To: HairBall who wrote (50525)	8/23/1998 6:25:00 PM
From: donald sew	Read Replies (3) \| Respond to of 58727

INDEX UPDATE ----------------------- I have been watching the NEW HIGHs and NEW LOWS carefully for several months as a longer-term indicator. When I was analyzing such since 1970, and noticed a similarity between current situation and early 1973. When we first hit 500 NEW HIGHs a few weeks ago, at that time some may have interpreted that as just a spike. Unfortunately we have had quite a few days at that level, which occured again on Friday. If one looks at the below chart one will notice how the NEW LOWS stay down for a longer period of time. decisionpoint.com Just an observation - is it conclusive? No, but it is possible. Seeya