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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 671.910.0%Nov 14 4:00 PM EST
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To: Smooth Drive who wrote (27802)10/8/1999 8:07:00 PM
From: Smooth Drive  Read Replies (2) of 99985
 
NEW HIGH NEW LOW BULLISH % CHART

This chart is constructed by taking a 10 day moving average of the New Highs divided by New Highs plus New Lows (over 52 weeks).

The chart bottomed on 9/29/99 and reversed up at the close of today's market action. I have this chart going back to 1980 and I've found a couple of interesting ways of using the data for buy/sell signals. I'll post that info soon.

80
78                 X
76         X       X O
74         X O     5 O 
72         X O     X O 
70     X   X O     X O X 
68     X O X O     X O X O 
66     X O X O     X O X O
64     X C 1 O     X O X O 
62     X O X O     X O X O
60     X O X O     X O X O 
58     X O X O     X O X O
56     X O X O     X O X O
54     B O X O     X O 7 O
52     X O X O     X O X O
50     X O X O     X O X O
48     X O X O     X O 6 O
46     X O   O X   X O X O
44     X     2 X O X O X O
42     X     O X O X O   O
40     X     O X O X     O X
38     X     O X O X     O X O
36     X     O X O X     O X O
34     X     O X O X     8 X 9
32     X     O X O 4     O X O
30     X     O X O X     O X O
28     X     O X O X     O X O
26     X     O 3 O       O X O
24 X   X     O X         O X O
22 X O X     O X         O X O
20 X O A     O           O X O 
18 X O X                 O   O A
16 X O X                     O X
14 X O                       O X
12 X                         O
10 X 
8  X 
6  9

You can see that this chart hit the 6% box on 9/3/98 and reversed up with an outstanding leading buy signal on 9/22/98. The double top buy signal at 26% (a Bull Confirmed Signal) removed all doubt on 10/21/98.

Could we have a head fake here like we did when it last reversed up on 8/19/99 (S&P-1323.59)and then reversed back down on 9/09/99 (S&P-1347.66)?

Take care,

Eric
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