Quote from Maverick74:
Hey Einstein, ever heard of the NYSE composite? Yeah it's this little index that includes every listed stock on the NYSE. Let me repeat that, IT INCLUDES EVERY LISTED STOCK ON THE NYSE. LOL. Well, that little rinky dink index is just ticks away from making a new all time high. So go chew on that Mr. Efficiency. And I could give a shit less if this market goes higher or lower. I find your desperate short rants amusing and at the end of the day, that's all that matters. Pure entertainment. Why don't give me some elliot wave analysis or gann lines to look at. LOL.
Repetition in upper case is truly a touch of class. I guess that comes from seasoned posting experience..
Yep, every listed stock. No dispute there. You know how many listed stocks there are priced below $7? See IF you can fit the tickers on one sheet of paper. Then repeat with a $15 threshold. Point being, the composite is a market cap weighted index. The listed components of the SPX encompass roughly 90% of the composite, rendering the disntinction between the NYA and SPX inconsequential.
Now the Value Line, entails the 1700 stocks that "matter". Both listed and NASDAQ. Only additions/deletions stem from M&A, rather than the whims of Dow Jones and Standard & Poor. Furthermore, it's an arithmetic mean. No funky divisors or weighting. "It's" not an an all time high.
Does an all time matter? Some view it NO resistance. Others, maximum risk point. I'd prefer to think of it as seeking new resistance, then stall. There's quite a distinction between an index and the underlying issues. Encompasses the concept of rotation.
This is a sucker rally, with added media fanfare. Nasdaq is adversiting "Everyday is like Sunday" to get their share of suckers. Foregone conlusion about a NASDAQ all time high.
Crash? The flavor of this thread. Six sigma event. Should occur once in a thousand years. I've experienced three. Thus far.
I'd rather chew on you. You're bait. And......with 5000 posts, I'd venture to say Master bait.