Gottfried,Big Buck and threaders, The Dorsey Wright Bull Percentages
for 12/30/97 were as follows:
NYSE 54% vrs 55.80 on 12/23/97, OTC 42.40% vrs 42.30 on 12/23/97, 10WEEK MOVING AVERAGE (short market indicator) 47.10% vrs 52.00 on
12/17/97, Computor Sector 30.30% vrs 33.20 on 12/17/97, Semiconductors 20.60% vrs 14.50 on 12/17/97, Software 31.10% vrs 35.40 on 12/17/97.
As of 12/30/97 according to DW AMAT was classified as a Bull Alert, having reversed upward in a positive column of "x's" from a low $26 to $31.00. Today, 1/05/98 it has agained moved up with a high of
$33 1/16.
Consequently, from the above data we have not seen much change in the above sectors during the last few weeks of 1997. This weeks DW Data will be out on Wednesday, 1/07/98.
IMO, it appears that $35 is the Bear Resistance point. Using the long range calculation, IMO, we have a potential high of $53 using the DW Vertical method of projection and $57 using the Horizontal method of projection.
With the increasing number of Funds, #402, getting into AMAT, IMO, I would not be suprised if we begin to get increased hype from the analyst with upgrades and from the media.
Naturally, this is my personal opined interpretation of the DW Charts, caveat emptor.
Just my opinions. What are yours?
Paul V.
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