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that really doesn't give you a proper idea

	teaparty			Friday, February 09, 2007 6:32:02 AM
	Re: skono4 post# 98840			Post # of 148478

that really doesn't give you a proper idea of relative strength of the big caps. RSP is just an equal weighted S and P 500.
Money had been going into the big caps and in fact the rally off the summer lows was lead by OEX...the biggest 100 stocks of the S&P 500 and represents 48% of it's market cap.
Over the past few weeks money has been leaving the big caps and moving into MID and RUT while OEX takes a rest. The oex:spx ratio has been dropping.
And I think only a rest during this up coming correction,then I think the OEX:SPX ratio really gets on the move upwards ala 1994/95 break out of that ratio.
OEX MUST hold the 615 area however for that scenario to stay alive. I've got a relatively wide target where OEX can bottom ranging between 615 and 640 eventually.
Have a gander at these and hopefully they can explain what I'm thinking. the first two you really have to study a bit as they are busy charts but quite cool if I do say so myself. lol

http://stockcharts.com/c-sc/sc?s=$OEX:$SPX&p=D&st=1990-01-01&i=p58499156155&a=606258...

http://stockcharts.com/c-sc/sc?s=$SPX&p=M&st=1987-01-01&en=2007-12-31&i=p57885915667...

http://stockcharts.com/c-sc/sc?s=$OEX&p=D&yr=1&mn=4&dy=0&i=p36804403878&a=87...

http://stockcharts.com/c-sc/sc?s=$NYAD&p=D&yr=3&mn=0&dy=0&i=p71902903590&a=4...

http://stockcharts.com/c-sc/sc?s=$OEX&p=W&yr=10&mn=0&dy=0&i=p91399792507&a=8...

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