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To: set who wrote (57421)	11/15/1998 7:10:00 AM
From: donald sew	Read Replies (1) \| Respond to of 58727

Shahar, I use to take the moving day averages of the NEW HIGHS MINUS NEW LOWS and the chart was similar to the UP/DOWN VOLUME. It was definitely a leading indicator. I believe that indicator started topping out around MAR. Did you take a look at the dates in the 90's, per my previous post. I am confident with that and as long as the NEW HIGHs stay below 100, after/if the rates are cut, the market should pullback about 5% or greater within a month and limited upside. I also have to tie it with my short-term technicals which are in the MID-RANGE, so there is possibly more upside for now. The criteria does work in both bull and bear markets since 1970. Of course there were more instances of such during bear markets but they did appear, just less frequently in bull market which is understandable, since that criterium is not a very bullish situation gggggggggggggggg seeya