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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (43359)	5/30/2006 6:39:51 AM
From: SHAWING	Respond to of 67789

Let’s take a longer look. stockcharts.com Lets see if 35 works like last April. Good Trading SHA

To: Johnny Canuck who wrote (43359)	5/30/2006 7:01:35 AM
From: Logain Ablar	Respond to of 67789

Harry: The NDX is not the same as the COMP. A reversal only means that a certain % of companies in the group have reversed to PnF buy signals. The NDX is a small universe compared to the NYSE and COMP. If the comp reversed then it might (might only) mean there is underlying strength and the risk of being long is changing into a favorable position. Underlying COMP and NYSE still indicate more stocks are on sell signals. While all PnF signals like all TA is based on trailing data the risk is still not favorable to be long. So far we've only had a 3 day bounce.

To: Johnny Canuck who wrote (43359)	5/30/2006 12:00:01 PM
From: Return to Sender	Read Replies (1) \| Respond to of 67789

Harry, the BP Indices tend to be lagging indicators. It is generally considered a very good sign for those bullish to see a reversal at 30 (or below). BPNDX actually hit a low of 1 about 5 years back. Then look for a reversal on the BPNDX of 6% or more. But you need to look for other positive divergences. I follow all the BP Indices but they will not update until a couple hours after the close. The best thing about the selling today if you're bullish is the volume has not been all that high. That could mean more just a lack of buyers. Sector Bullish Percentages: BP Consumer Discretionary, BP Transports, BP Industrials, BP Materials, BP Information Technology etc. The Early Recovery Movers: The Bullish Percent Index (BPI) is a popular market breadth indicator that is calculated by dividing the number of stocks in a given group (an exchange, an industry, etc.) that are currently trading with Point and Figure buy signals, by the total number of stocks in that group. Bullish Percent levels that are above 70% are considered overbought, whereas levels below 30% are considered oversold. Strong buy signals occur when the Bullish Percent Index falls below 30% and then reverses up by at least 6%. Conversely, promising sell signals occur when it goes above 70%, and then reverses down by at least 6%: Mid Cycle Movers: BP Telecom Services Sector, BP Healthcare, BP Utilities and BP Financials - Late cycle movers after the market top is in. The Bullish Percent Index (BPI) is a popular market breadth indicator that is calculated by dividing the number of stocks in a given group (an exchange, an industry, etc.) that are currently trading with Point and Figure buy signals, by the total number of stocks in that group. Bullish Percent levels that are above 70% are considered overbought, whereas levels below 30% are considered oversold. Strong buy signals occur when the Bullish Percent Index falls below 30% and then reverses up by at least 6%. Conversely, promising sell signals occur when it goes above 70%, and then reverses down by at least 6%: