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To: Stoctrash who wrote (4764)9/28/1998 2:15:00 PM
From: Arik T.G.  Read Replies (1) | Respond to of 44573
 
The OEX does look weaker.

In the SPX there are high flyers like DELL and LU which do not participate in the OEX. Esp. DELL which make over 1% of the SPX, and was up 37% this month.

I trust the OEX chart better, because it looks better, with the same flat line halting all declines since March.
But this brings me back to the same problem- the high flyers.
The NDX index came very close to its July high. All the big contributors to this index are at or within inches of 52 wks highs, which in most cases are also all time highs. Zero gravity.
No wonder NASA's budget was cut. We have DELL.

ATG

Edit: It is very fitting that YHOO was added to the NDX. Like a glove.