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Strategies & Market Trends : Jim's Nasdaq100 Special as a basket. -- Ignore unavailable to you. Want to Upgrade?

To: James F. Hopkins who wrote (2061)	6/2/2006 1:39:33 PM
From: OldAIMGuy	Read Replies (1) \| Respond to of 2103

Hi Jim, I follow the NYSE and NASDAQ Comp. "New Highs and Lows" on a weekly basis. Norman Fosback uses this data in what he called his "Hi/Low Logic Index." I modified his methods slightly and plot the info weekly against various indexes. Here you see that it's rather fickle compared to some of my other components. A higher value means there's lots of confusion in the market because there's lots of new highs and lows at the same time. A low value means there's consensus in market direction. (it doesn't matter if the consensus is "down" or "up" it's still bullish for the next 4 to 8 weeks) Best regards, Tom