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

To: Ms. X who wrote (6632)	9/1/1998 8:31:00 PM
From: Ms. X	Respond to of 34810

Timeline July 23rd: This week the NYSE Bullish Percent still did not reverse. Think about this for a second. The NYSE Index went to a new all time high recently with 24% fewer stocks on buy signals than April and since then the bullish percent has been unable to gain 6% net new buy signals over net new sell signals. This index is trying to tell us something about the economy. It reminds me of October 1989 where it reversed from above 70% going to defense and Bear Alert Status. It was telling us we were on our way to a recession or were in one. Mr. Greenspan didn't warn us of the recession until we had been in it for 6 months and when he did warn of being in a recession, it was at the exact bottom of the market. Could it be we are going to get some sort of correction here bringing us to some sort of bottom and, again, Greenspan, when given the figures from the Commerce Department, will alert us that we are in a recession exactly at the bottom again? I don't know, but it's food for thought. Remember this time a 10% decline equals about 900 points, and 20% like in 1989-1990 equals 1800 points." Written and printed with permission. Copyright Dorsey Wright and Associates.