Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Ms. X who wrote (5405)	8/4/1998 11:19:00 PM
From: Ms. X	Read Replies (2) \| Respond to of 34812

Word from Wizzie.. He is stuck in limbo with no computer. He doesn't even have CNBC. Where he is now, no one is aware a stock market exists. He is miserable.

To: Ms. X who wrote (5405)	8/5/1998 8:55:00 AM
From: Bwe	Read Replies (4) \| Respond to of 34812

Chartcraft Report: NYSE Bullish % falls to 36.1% Weekly Data: NYSE Bullish %: 36.1% OTC : 30.2 Optionable Stocks: 30.6 ASE : 37.0 Dow Stocks : 26.7 NYSE stocks above their own 10 week MA: 18.03 30 week MA: 23.81 Option stocks above their own 10 week MA: 16.0 30 week MA: 27.8 NY High Low Index: 9.3% Bullish Advisors: 50% Bearish Advisors: 27.6 My commentary....The NYSEBP is at the lowest levels since 12/94 and has only been lower twice before in the last 11 years (18% 9/90 and 20% 12/87). Still too much optimism in the survey of advisors and that leads me to believe that Chartcraft's Dow 8,000-8,400 target will be reached and probably reach the lower end of that range. Broad industry Group Action: 37 groups moved down.........0 moved up..........10 status changes........8 groups moved to oversold levels Broad Industry Group Bullish % Sum moved to -36.5 down from-24.0 last week. I've asked Michael Burke to send me a longer term copy of this chart, however, my chart goes back to 1990 and this weeks action surpassed the previous low made in May '94 at -33. Because this data is so important, I'm going to post it immediately and put the Broad sector action in another post. Take care, bruce