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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 (30689)10/20/1999 11:52:00 PM
From: Smooth Drive  Read Replies (3) 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, reversed up on 10/08/99 and reversed back down on 10/19/99 to the 14% box. Today it dropped another box. 

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 O
14 X O                       O X O
12 X                         O   O
10 X                             O 
8  X 
6  9

Another double bottom sell signal (the chart was already in Bear Confirmed status). Even with today's up action, new lows far outpaced new highs. Here's a dab of the last 10 days.

	       NYSE	NYSE		10 Day 	5 Day
	       New	New		Moving	Moving 
DATE	       Highs	Lows	Index	Average	Average
10/20/99	20	329	0.057	0.117	0.045
10/19/99	19	275	0.065	0.136	0.042
10/18/99	8	418	0.019	0.155	0.057
10/15/99	11	500	0.022	0.178	0.107
10/14/99	24	357	0.063	0.191	0.150
10/13/99	15	324	0.044	0.204	0.190
10/12/99	33	204	0.139	0.213	0.229
10/11/99	43	118	0.267	0.209	0.253
10/08/99	42	134	0.239	0.191	0.250
10/07/99	44	125	0.260	0.171	0.232
10/06/99	47	148	0.241	0.152	0.218
10/05/99	54	154	0.260	0.136	0.198

Take care,

Eric
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