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Strategies & Market Trends : Point and Figure Charting
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To: wiley murray who wrote (2156)4/1/1998 11:54:00 PM
From: Ms. X  Read Replies (2) of 34811
 
Everyone: Market indicators, where are we this week.

Well folks, I'm not going to beat around the bush. We are extended. Very extended. This week saw the NYSE bullish percent rise to 72.8% and the optional bullish percent up to 73.8%. However, two indicators declined, not enough for a reversal but enough to keep an eye on them. The 10wk moving average down to 10.4% and the High Low index down to 90.8% (down 4% on the week). Remember, these two are the first to turn and then the Optional bullish percent.

Sectors are skewed heavily to the right. Again, we are in overbought territory. Remember the post I put together recanting the indicators and what they did before the correction in October? If so then what I have just told you here should sound familiar.

Be careful out there! Check your stocks!
Have they been under performing? Have they been slipping of late? Do you know the stop points etc? I'm not here to scare you and I'm not saying a correction comes tomorrow, but one does come and ya best be prepared. Read Dorsey's post on how to protect portfolio's. Great advice.
No chasing stocks here!!!!! Buy quality. Know your stuff.

I'll post next some charts showing the NYSE BP and the sector bell curve.

Jan I am
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