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

To: Smooth Drive who wrote (22654)	8/11/1999 10:20:00 AM
From: Bwe	Read Replies (3) \| Respond to of 99985

Good morning Eric. You were up late last night I see from your excellent OMC p&f post. I have not read any previous messages on the OMC indicator. What's the gist of it if I might ask? Wonderfully written p&f analysis that post was. Has there been consideration in doing an RS calculation and rating on the OMC? I love that RS. Hope your summer has been a good one. Bruce

To: Smooth Drive who wrote (22654)	8/19/1999 2:02:00 AM
From: Smooth Drive	Read Replies (1) \| Respond to of 99985

FROM CHARTCRAFT INVESTORS INTELLIGENCE: SENTIMENT INDEX 08/20/99 08/13/99 % of Advisors Bullish 45.80 50.00 % of Advisors Bearish 31.30 29.30 % of Advisors Correction 22.90 20.70 This is the first time in approximately 38 weeks that the bullish advisors have fallen below 50%. I find this to be an encouraging sign. The NYSE Bullish % is in a column of O's with the last O sitting in the 48% box. Tuesday's reading was 46.40 and it was at 46.10 last week. No strength showing here right now. The High Low Index Bullish % chart however could well turn up tomorrow. As of tonight's close it's at 23.27% and it will reverse up at 24%. LG's OMC now looks like this: * 1760 X * 1750 X O * 1740 X O * < Bearish Res Line 1730 X O * 1720 X X O * 1710 X O X O * 1700 X O X O 1690 X O O 1680 7 O 1670 X O X 1660 X O X O 1650 X O X O X 1640 X X X O X O X 1630 X O X O X O O X 1620 X O X O X 8 X 1610 X O X O X O X 1600 X O X X O X O X X 1590 X O X O X O O X O X 1580 X O X O X X * O X O X 1570 X O O X O X * + O X O X 1560 X O X O X * + O X O X 1550 O X O X + O O X 1540 O X X O X + * + O X 1530 O X O X O X + + * O X 1520 O X O X O X + + * O 1510 O X 6 X O + + * 1500 O X O X + + * 1490 O X O + + * 1480 O + + < 1st Bullish Resistance Line Reversed back up last Wednesday and has picked up a box or two every day. Historically takes a breather after a run up like this. I look for a pullback tomorrow. Take care, Eric