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Non-Tech : Dorsey Wright & Associates. Point and Figure -- Ignore unavailable to you. Want to Upgrade?

To: Riskmgmt who wrote (7764)	5/10/2000 10:32:00 AM
From: Ms. X	Read Replies (1) \| Respond to of 9427

The Nasdaq is not the same as the indicators. The indicators give you a percentage of stocks on PnF buy signals, the Nasdaq can be driven by stocks like Cisco moving down 3-4 points (if they are heavily weighted. Cisco gave its vote for a sell signal, it is only allowed one, some time ago. It doesn't matter if it goes down another 50pts it already gave its one vote. The stocks that gave their one vote for a buy so far outweigh those that gave their one vote for a sell. Those that are on a buy can move up 50pts but it doesn't effect the indicators because they already gave the buy signal but it sure would effect the Nasdaq. The indicators staying motionless,and the two markets moving down, really, means those that are already on a sell signal are either a) still moving down considerably or b) can't rally enough for a buy and, those that are already on a buy are either a) holding in one area without breaking support or b) their rallies mean little to the Nasdaq in weight. The momentum has been out of the Nasdaq for a while.