MDA - Market Direction Analysis

[exp]

so, in 2002, the system profits were approx.:
spx: (2800-2400)/2400=15-20%
dow: (17500-15000)/15000=15-20%
ndx: (12300-11700)/11700=5%

is this correct? assuming it is, a few points:
(1) the system had very moderate gains in 2002
(2) the system performs much better in a bull market
(3) the gains in 2003 are likely not sustainable unless we enter a bull market

george