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: Bwe who wrote (5734)	8/12/1998 2:56:00 PM
From: R Stevens	Read Replies (2) \| Respond to of 34811

Bruce, Thank you as always for the report. The main coach for p&f chartists, The NYSE Bullish %, moved to the oversold level this week at 29.6%. This is the lowest reading in this indicator since 9/90 when the NYSEBP moved to as low as 18%. Think about it, on May 6th, 72% of stocks on the NYSE were bullish. Now, that number has shrunk to 29.6%. What I find remarkable here is that the markets hit all time highs just a few weeks ago, and yet now in just a matter of days the NYSEBP is at it's lowest point in 8 years. How can the time period between the two be so short? Apparently a lot of stocks can go from buy signals to sell signals very quickly! Am I correct saying that? Thanks, RS

To: Bwe who wrote (5734)	8/19/1998 8:53:00 AM
From: Bwe	Read Replies (1) \| Respond to of 34811

Chartcraft Report: NYSE Bullish % inches higher to 29.8%. NYSE stocks above their own 10 week MA moves to Bull Alert status reversing up to 23.92% Bullish Advisors: 40.7% Bearish Advisors: 34.5% The survey of investment advisors has FINALLY moved to levels that suggest the end of corrections. Optionable Stocks Bullish %: 27.8 OTC : 27.8 ASE : 31.3 DowBP: 26.7 NYSE stocks above their own 10 week MA: 23.92* now BULL ALERT 30 week MA: 25.86 Option stocks above their own 10 week MA: 28.0 30 week MA: 31.6 NY High Low Index: 11.3 Many of the indicators above are only marginally away from reversing up which would be a bullish event. Broad Industry Group Bullish % Sum: -39.5% One reversal up: Semiconductors moved to 32% and now is Bull Alert status One status change down: Gaming moved to 32% and is now Bear Confirmed. The following groups all moved down on their charts: Autos: 32% Banks: 32% Biomedics: 18% Chemicals: 26% Household Goods: 28% Leisure: 22% Machinery: 28% Media: 40% Real Estate: 32% Restaurants: 26% S&L's: 30% Steel: 16% Telephone: 24% Transport/non air: 24% I'll post more Chartcraft commentary and stuff later today. Good trading everybody. Things are looking up! Bruce