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To: jack bittner who wrote (8107)5/20/2000 10:47:00 AM
From: Augustus Gloop  Read Replies (1) | Respond to of 9427
 
I believe he is referring to the uptrend which in this chart starts at 49 and ends at 56

66 66
65 ----------------------------------------------------------------------------65
64 * 64
63 X * X 63
62 X O * X O X 62
61 X O * X O X 61
60 ------------+-------------------X O ----* ----------X O X --5 --X ----------60
59 | X O * X O X O X O X 59
58 | X X O * X O X O X O X 58
57 X * | X X O 2 O * X O O O 57
56 A O X * | X O X O X O * X * 56
55 X O X --B O * --X ------X O X O X O ----X ------X * X --------* ------------55
54 X O X O X O | * X O X X O X O O X O X X O X * Med54
53 X O X O X O | X O X O X O O X O X O X O X * 53
52 O X O O X X O X O X O X O X O X O X * 52
51 O X O X O X O O * O X O 4 O O X * 51
50 --O ------O X O X -- ----* --O ----X O X ----O * ----------------------50
49 O X 1 X * 3 X X O X * 49
48 C X O * O X O X O X 48
47 O X * O X O X O 47
46 * O X * O O X 46
45 ------* --O X ------* ----------------O ------------------------------------45
44 * O X * 44
43 * O X * 43
42 * O X * 42
41 O * Bot41
40 ----------* | --------------------------------------------------------------40
39 | 39
38 | 38
37 | 37



To: jack bittner who wrote (8107)5/22/2000 11:22:00 AM
From: Ms. X  Read Replies (1) | Respond to of 9427
 
Hi Jack...

Quick PnF lesson but to understand it fully you would have to
learn PnF, understand it completely. I'll outline the NDX for
you here enough that I hope you understand.

Here is the chart for the NDX:

4250----------- 4 X O ------------* ---
4200 O X O * <--Bearish Resistance
4150 O X O * Line. Trend Line
4100 O X O *
4050 O X O * Med
4000------------O X O ----------------------*
3950 O X O Trading below trend line.
3900 O X O
3850 O X O X
3800 O X O 5 O
3750--- O X O X ------X O -----
3700 O X O X O X O
3650 O X O X O X X O X X
3600 O X O X O X O X O X O X O
3550 O O X O X O X O X O X O
3500- O X O X O X O X O X --X O
3450 O X O X O X O O X O X O
3400Broke support-> O X O X O O X O X O
3350 * O X O X O X O O
3300 * O X O X O X O
3250-- -----* ------O X O ----------O ---
3200 * <--Support Line
Also the trend line

Bell curves for the NDX.
You can see the center line is to the left which shows it
as oversold. The numbers below indicate the over sold, middle
and over bought.

Wkly Distribution
| +
| + +
| + +
|+ +
+ * +
+ | +
------|-----------------------------
2473.74 4060.12 5646.49

Daily Distribution

| +
| + +
| + +
| + +
+* +
+ | +
-----|------------------------------
3107.64 3494.62 3881.60

The Nasdaq chart is also trading below the trend line.
Here is the distribution charts for the Nasdaq.

Wkly Distribution

| +
| + +
| + +
| + +
+* +
+ | +
-----|------------------------------
2691.15 4274.85 5858.55

You can see in the above distribution that the middle is
4274.85 which would be a "normal" market. Right now the
Nasdaq is over sold.

Daily Distribution

| +
| + +
| + +
| + +
*+ +
+ | +
---|--------------------------------
3283.52 3611.37 3939.22

When charts are below trend they are negative and are very
risky investments. The percent of RS in X's is the percent
of stocks whose RS is in X's. RS in X's means it is out
performing the market. If the percent is low it means there
aren't that many that are out performing the market. If the
RS in X's chart is in O's that means the percentage is
starting to decline which is very negative.

All in all the Nasdaq looks horrible and has for some time
now. Should there be any change it will be posted here.

To fully understand all of this learning PnF is advised.
There are several here who can help and of course going to
dorseywright.com would be most helpful too. We will have a
University up soon, online University, that will teach all
of this stuff.

Hope it helped,

Jan


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