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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: donald sew who wrote (34490)10/31/2000 10:32:33 PM
From: Dan Duchardt  Read Replies (1) of 42787
 
Don,

The one weak spot was the NEW HIGHS/LOWs:
DOW - 99(new highs), 51(new lows)
NAZ - 90(new highs), 135(new lows)

I'd just like to add a little clarification, and perhaps a bit more information to help form a perspective on this.

I assume by DOW you really mean NYSE, since DOW is just the 30 stocks. For the last 10 days, the DOW new highs and lows have been as follows:
H 0 0 1 2 1 2 2 3 3 4
L 4 0 1 0 0 1 0 0 0 1

The NYSE has been: (leading zeros for alignment)
H 027 38 56 64 68 060 046 73 112 145
L 322 92 77 73 92 121 110 96 074 065

And for Nasdaq:
H 022 044 065 070 068 043 032 052 059 103
L 527 166 102 100 106 175 216 219 157 197

Our data sources don't seem to be in exact agreement on these numbers. I don't know why, but I will assume my source (myTrack) has a consistent counting scheme over the historical data. I agree with your observation that new Nas highs will take a while to kick in. Considering how far Nasdaq is off the year highs, I'm surprised the lows are not outpacing the highs by a wider margin. I'm surprised at the relatively small number of Nasdaq lows yesterday compared to the surrounding days, but generally I see the high low count to be in line with the historical charts for the Dow, New York composite and the Nasdaq composite.

A historical chart on the NYSE highs actually shows today's 145 to be a very strong number. Numbers above 150 are very rare. The 100 day moving average is below 100. The 200 day moving average is even lower at about 80. The high for the year was on September 11 (date of the all time high for the NYSE composite) at 224, the only day above 200 since June 1999. On January 14, 2000 at the record Dow high it was only 137.

Dan
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