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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: wizzards wine who wrote (3714)	6/15/1998 5:47:00 PM
From: Ms. X	Read Replies (2) \| Respond to of 34811

To all: Series of events. Printed with permission of DWA. Date Indicator Change 3-11-98 Semiconductor Sector rose as high as 66% in February and Bullish Percent then reversed down in March. This reversal was from one of the sectors which had been leading the market. 4-3-98 NYSE Advance- NYSE Advance-Decline Line peaked here. Decline Line Since that peak, we have seen over 10,500 more stocks decline (not including Friday) than advance on a cumulative basis in roughly two months. This is what is going on below the surface as discussed in last Thursday's Technical Indicator Update. 4-8-98 Percent of Stocks Rose to 72% in March and then reversed from Above Their 10 above to below the 70% level. This is a sell Week Moving signal for this short term indicator. Average Line 4-8-98 High-Low Index Another of our short term indicators, it reversed down from 94%. 4-22-98 Bullish Measures the percentage of advisors who are Sentiment bullish on the market. That reached 54.6% on this date. Market tops are usually accompanied by readings between 50% and 60%. 4-27-98 Optionable This indicator actually peaked on April 3rd. Bullish Percent However, it reversed into a column of O's and into a Bear Alert mode on April 27th. This is an indicator to watch because it usually leads the NYSE Bullish Percent. 4-29-98 Percent of Stocks Reversed down from its March highs of 66%. Above Their 30 This March high was well below the October Week Moving 1997 level of 86%. Saw another lower top in Average Line May at 62% and this indicator has now dropped to the 50% level. 4-29-98 Wall Street Moved below the 70% overbought level on its Bullish Percent chart. Reached 74% in April and this was the 3rd lower top we had seen here since the July 1997 top at 86%. 5-5-98 High-Low Index Moves from above to below the 70% level and this is a sell signal. Joins the Percent Above 10 Week on a sell signal. 5-6-98 Bullish Reversed down from the 54% level and moved Sentiment below 50%. This suggests a move down to the 40% level or lower. 5-7-98 NYSE A-D Line Reversed to the downside, making a lower top on its chart. 5-13-98 NYSE Bullish Reversed down from 72% and moved below the 70% Percent level. That changed the status to Bear Alert and brought the Defensive Team onto the field. Also made a lower top as the Bullish Percent hit 76% in both August and October of 1997. This divergence between the market and the Bullish Percent is typically bearish. 5-18-98 NYSE A-D Line Broke down on its chart. Typically a leading indicator and as mentioned above, it peaked on April 3rd, a month prior to the Dow high. 5-26-98 OTC Bullish Reversed down into a column of O's and into a Percent Bear Alert mode. 6-12-98 Dow Jones Breaks a spread triple bottom at 8700 on its Industrials chart. Next support in the 8150 area. Keep in mind that we focus more on the NYSE Bullish Percent to measure risk in the market, not the Dow, but we wanted to let you know of this breakdown.