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Strategies & Market Trends : Point and Figure Charting
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To: Gwolf who wrote (13175)1/27/1999 8:00:00 PM
From: Smooth Drive  Read Replies (2) of 34808
 
Hello All,

With permission from Chartcraft/Investors Intelligence, here's a bit of their Daily Market Data.

SENTIMENT INDEX           1/29/99         1/22/99
% of Advisors Bullish       60.7            60.3
% of Advisors Bearish       28.2            28.9
% of Advisors Correction    11.1            10.8
Bulls 10 Week MA            65.6            65.3

Sentiment is a worry. Most bulls since 8/87, and bulls rose again this week while the bears fell. However, the bears are higher now than they were in 87.

A few moving averages and bullish % charts as follows:

                         1/26/99            1/19/99
% of NYSE > 10 Week MA     42.48              47.71 Bear Confirmed
% of OPTs > 10 Week MA     43.80              52.7  Bull Confirmed
% of NYSE > 30 Week MA     44.85              46.45 Bull Alert
NYSE Bullish %             52.0               54.4  Bull Correction
OTC Bullish %              59.5               62.6  Bull Confirmed
OPT Stks Bullish %         59.1               63.2  Bear Alert
NYSE High Low              49.2               66.2

The NYSE Bullish % is one box away from a bear confirmed status. Of the Broad Industry groups: Four were up and eight were down. And four groups moved from bull confirmed to bull correction.

Defense is back on the field. Short term indicators are all weak. The advance-decline for all three indexes are lower than 10 days ago.

Take care out there,

Eric
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