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Strategies & Market Trends : Drillbits & Bottlerockets
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To: Jorj X Mckie who started this subject4/2/2001 11:49:20 AM
From: Rich1  Read Replies (1) of 15481
 
From DWA:

Market Update April 2, 2001

This morning we wanted to let you know that the OTC Percent of Stocks Above Their 10 Week Moving Average (TWOTC) and the OTC High-Low Index (OTCHILO) both reversed up into a column of X's. The OTC 10 Week (TWOTC) chart had fallen from January highs of 72%, reaching that level after we saw a true "January effect" for the first time in years, to a low of 16%. That move came in just one column, all the way down. The reading of 16% put the TWOTC down were it bottomed in May 2000 and December 2000. The OTC High-Low Index (OTCHILO) also has a similar picture. The OTC High-Low Index reached the 82% level in January. That put the OTC High-Low in areas where it has topped out in March 2000, July 1999, March 1998, and September 1997. The OTCHILO fell virtually straight down from that high level to 10%. Like the TWOTC chart, the reading of 10% was at the same level were the indicator bottomed at April/May 2000 and December 2000.
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