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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: RWS who wrote (22913)	7/31/1998 10:53:00 PM
From: Monty Lenard	Read Replies (2) \| Respond to of 94695

RWS, This is % of issues above their 200 Day Moving Average. More coming but just consider that with the exception of the S&P 100 and the NASD 100 all the broader indices have more than 60% of their securities below their 200 DMA. NYSE NASD NASD100 S&P100 S&P400 S&P 500 S&P600 07/20/98 48.1% 35.4% 62.0% 68.0% 56.3% 63.6% 47.8% 07/21/98 47.0% 33.9% 61.0% 63.0% 53.8% 61.6% 46.0% 07/22/98 45.9% 33.5% 59.0% 66.0% 51.3% 61.4% 44.5% 07/23/98 41.9% 32.0% 55.0% 58.0% 45.3% 56.8% 41.8% 07/24/98 41.6% 32.3% 55.0% 58.0% 44.5% 55.4% 40.2% 07/27/98 40.1% 31.8% 56.0% 59.0% 43.3% 56.2% 38.5% 07/28/98 38.0% 31.0% 55.0% 55.0% 39.8% 52.2% 36.7% 07/29/98 37.7% 30.0% 53.0% 55.0% 38.0% 51.8% 37.2% 07/30/98 38.7% 31.6% 58.0% 58.0% 41.5% 53.4% 38.0% 07/31/98 36.0% 29.9% 52.0% 55.0% 37.0% 48.4% 33.0% Monty

To: RWS who wrote (22913)	7/31/1998 11:01:00 PM
From: Monty Lenard	Respond to of 94695

RWS, Here is more. This is the ratio of Adv Issues vs Decl Issues. Date NYSE NASD NASD 100 SP100 S&P400 S&P500 SP600 7/20/98 -16.5% -13.5% -15.5% -34.7% -20.2% -24.1% -18.6% 7/21/98 -40.9% -33.0% -50.5% -64.2% -65.9% -60.6% -49.2% 7/22/98 -30.3% -32.7% -28.4% 9.3% -35.1% -0.4% -47.4% 7/23/98 -58.1% -50.9% -59.2% -73.7% -65.3% -74.5% -57.7% 7/24/98 -24.3% -32.8% -6.1% -29.9% -29.3% -35.2% -22.9% 7/27/98 -36.9% -41.3% 6.3% 10.6% -30.1% 0.4% -51.1% 7/28/98 -47.5% -41.7% -54.6% -53.7% -66.8% -55.7% -44.7% 7/29/98 -11.7% -11.4% -29.9% -21.3% -1.6% -17.1% 5.8% 7/30/98 34.8% 22.6% 55.6% 57.1% 50.5% 52.4% 19.3% 7/31/98 -48.2% -34.5% -69.1% -61.2% -64.6% -71.1% -68.2% And of course the NH-NL has been more than terrible. We are not looking at a Oct 27th. This has been very organized. (Sneaky even) Then beyond all this, there was no reason that the market did not follow through today to the upside other than a lot of selling into the strength by smart money. And as Jim has been saying for a long time there are only a few holding this puppy up and I think we starting seeing the sell off in them today. Also, there is just too much of a Ho Hum attitude. Monty