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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 665.67

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To: HairBall who wrote (13359)	5/10/1999 1:59:00 AM
From: Smooth Drive	Read Replies (1) of 99985

Hello LG, >>Virtually all my short and long term P&F based indicators are bullish. You can see that the % NYSE > 10 Week MA and the OPTs > 10 Week MA are now overbought and so is the NYSE High Low Index. Reversals down from these limits could change the short term outlook to bearish. The NYSE Bullish % increased again as more equity stocks are participating. But, we must remember that the risk status is Bear Correction. The light is flashing red. How do you get a bearish correction status from Virtually all my short and long term P&F based indicators are bullish. from this???<< The NYSE Bullish % Index consists of approximately 2000 equity stocks on the NYSE (preferreds, warrants, etc not counted). One of great beauties of a P&F chart is that it's either on a buy or sell signal. Never in-between. The Bullish % Index measures what percentage of the equity stocks are on a buy signal. There are 8 basic risk status areas - but most folk's only learn and use 6. The most common six are described at the bottom of this post at the Captain's outstanding QQQ thread Message 9266166. Also if one wants to learn more about the NYSE Bullish % Index my help page will take them to the Dorsey site and there is an explanation and sample described. Anyway LG, although the NYSE Bullish % Index is in Bear Correction risk status, it's rising in a column of X's. It took a 6% correction (each box is valued at 2% and it takes a 3 box reversal to change direction either up or down) to reverse up, and that action along with a few other things, put me in a long term bullish state of mind. If it were to reach the 60% box it will revert to Bull Confirmed risk status. The term Bear Correction is one I don't really agree with but that's the term the P&F industry uses. Take care, Eric

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