Nevertheless, leading market indicators were down across the board yesterday.

Two market indicators yesterday set new lows for the year.

The theory required at least one of the three major market indicators to finish 1987 higher than 1986.

The general market indicator showed a gain of 4.24 percent at the closing bell.

Major market indicators other than the Dow also showed small losses.

So, although cash levels remain important to managers, they have become less useful as market indicators.

But there is a major flaw in short interest as a market indicator.

By the closing bell, all three major market indicators were lower.

But until yesterday, the Dow was the only major market indicator not to set a record this year.

All three of the major market indicators finished on the down side.