NYSE Summation Index

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EqtTrdr

How high is this thing going to go??

Seems to me it is impossible for this to continue at its current pace upwards.......!!
 
Quote from EqtTrdr:

How high is this thing going to go??

Seems to me it is impossible for this to continue at its current pace upwards.......!!
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Can you explain what this Index is ?
 
Now (as of yesterday) it is 849.22 while on Feb/Mar 2002 it reached 854.20

Anyone care to guess what the market did on Feb/Mar 2002? :p
 
Its a good point Babak, but what about other signs of market strength, weakness. Internals, AD new highs, etc. Are they in a comparable state as well?
 
goin' off the rails on the crazy train!!

let's not forget how this whole thing started -- with a midnight short-covering rally in the dollar...

i will not lie -- i am psyched to be short.
 
I am beginning to suspect a that just pullback is in the works, not a trend change.

There are a few things different in this rally than the other bear market rallies.

1) Since 2000, nasdaq rallies of greater than 2 weeks have occurred after new post 2000 lows in the index. Not this rally, it has occurred off a higher low.

2) A 90% up day followed a 90% down day started this rally, and historically, these have resulted in multi-month rallies. Lowry's other indicators are currently very green but in overbought.

3) sector participation in this rally is more broad based than the other rallies.

I am psyched to be short now also, have bought Rydex short funds at yesterday's levels, but I am limiting my outlook at this point to a pullback. And if the pullback is not accompanied by heavy selling, I am inclined to see the rally continue.

If anyone can get AMG data, please post.
 
I am beginning to suspect a that just pullback is in the works, not a trend change.
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We'll have to see how deep the pullback will be.

indices are not out of the woods yet, they're under a downtrend line.
 
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