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Strategies & Market Trends : Point and Figure Charting
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To: mph who wrote (12849)1/20/1999 4:26:00 PM
From: Smooth Drive  Read Replies (1) of 34808
 
Hello All,

With permission from CHARTCRAFT/INVESTORS INTELLIGENCE, here's a few highlights from their daily Market Data:

SENTIMENT INDEX          01/22/99      01/15/99
% of Advisors Bullish      60.3          60.0
% of Advisors Bearish      28.9          30.0
% of Advisors Correction   10.8          10.0
Bulls 10 Week MA           65.3          64.5

                         01/19/99      01/12/99
% of NYSE > 10wk MA        47.71         51.84 Bear Alert
% of OPTs > 10wk MA        52.70         58.50 Bull Confirmed
NYSE Bullish %             54.4          58.4  Bull Confirmed
OPT Stks Bullish %         63.2          66.9  Bull Confirmed
DJIA Bullish %             43.3          70    Bear Confirmed
NYSE High Low Index        66.2          76.9

Long term bullish but short term bearish. NYSEBP is down almost 4% from a week ago. 52% would reverse it down again.

Bullish Advisors highest since 60.8% on 8/28/87. However, bears are higher now and technicals are better too. "But at this point it is more comfortable to be taking chips off the table than putting new chips on the table."

"Our Model is still Bullish and this should be a correction, but we are being a little bit cautious and we are starting to show some signs of weakness."

Take care,

Eric
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