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

To: Smooth Drive who wrote (19221)	7/2/1999 3:35:00 PM
From: HairBall	Respond to of 99985

Eric Stevens: Howdy there partner....<g> I really want to discuss a P&F chart of my NYA-COMPX Composite Index. As soon as I have the time, I will PM you. Regards, LG

To: Smooth Drive who wrote (19221)	7/2/1999 3:36:00 PM
From: James Strauss	Read Replies (1) \| Respond to of 99985

Eric: The Cabot Market Letter uses the Two Second Rule... It says the number of New Lows is an indicator of market health... It raises a warning signal if the number of new lows is consistently higher than 40 on the NYSE... Conversely, after a period of New Lows being consistently above 40, a return to the 40 or less number of New Lows for four or more days suggests that the selling is drying up... We are talking about absolute numbers not percentages... Currently New Lows are near the 40 mark for two days in a row... This is a distinct improvement over the previous week's readings of New Lows close to 100... So, the current trend is bullish... Jim