Teri, Great to see you posting again. Following is a copy for all threaders.
Linda, 12/10/97, The DW Wkly Update.
Compare with previous e-mail if you have them.
Received the Bull % of NYSE, OTC, SEMI'S this Wednesday morning, 12/10/97 morning.
Last week, the NYSE inceased to 57.20% from 47.10%, 2 wks ago, its recent low. This week it increased to 60.80%. However, IMHO, statistically, we still have to go lower below the 50 percentile to arrive at a average of 50 percentile. How long it will take now one knows.
The OTC has not changed much during the last six weeks staying in the range from 48.20 to 50.50%. The recent low of 44.70% was on 10/27/97. This week the % was 48.50%. Again, IMHO, statistically, we still have to go lower below the 50 percentile to arrive at a average of 50 percentile. How long it will take now one knows.
The SEMI's is down statistically from last (12/03/97) weeks 31.70 percentile to 27.90 percentile today (12/10/97). Remember, below 30% is in the oversold range for a sector. The recent low was on 10/27/97 when the % was at 20.80 percentile. The lowest in 1996 was 12% in July.
Naturally, this is my person opined interpretation of the DW Charts, caveat emptor.
Paul V.
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