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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: bearshark who wrote (17206)	6/15/1999 2:44:00 AM
From: Smooth Drive	Read Replies (1) \| Respond to of 99985

Hello Bearshark, >>I do not use new highs/new lows at all. A stock is a stock in my book. When I do my market analysis, I use all NYSE stocks.<< Thanks for your thoughts. I do use the high low index but I also agree with the rest of your comments. For those with an interest, I've been following Chartcraft/Investors Intelligence High Low Index (it uses a 10 DSMA of the new highs divided by new highs and lows, and charts them on a P&F Bullish percent index). Of special note is the fact that these are equity only issues of the NYSE. I have now parallel tracked Chartcraft's index with the new highs and new lows of the entire NYSE and, the results are as I expected them. Almost identical results. Bottom Line: The market's a teeter toter, with interest and futures on one side and stocks and bonds on the other. One goes up the other goes down. The Barrons article, which I didn't read but highlights were posted here, inferred that the high low index was losing its effectiveness because of closed end bond funds, preferreds, etc. Not so. For the most part, stocks and bonds feast and famine together. Take care, Eric