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Lionel,
The table on Page 376 refers. Dines book is a truly massive commentary
on TA.
I transfer the MS exploration onto Excel both daily and weekly. It only
takes a couple of minutes.
Watch the movement of the share or sector up and down the table in
relation to its actual momentum ( or other scan ) value. A rising table
position with a rising value is bullish. A rising table position with a
falling value is ignored.
Also watch the table position of the 100 mark. This gives an excellent
indication of the bull / bear state of the market. A 100 level rising up
the table is bearish. Also check the number of sectors above and below
the 100 level for another bull / bear indication. Color some of the
cells to make identification easier.
Re 'narrowing the universe'. I check daily each sector's relative
strength against an overall market index. Select the sectors with the
positive rel strength and find the shares in those sectors causing the
strength. Only then do I analyse this short list.
I will post the technical analysis course soon.
Hope this helps.
Regards, Dr. Clive Roffey
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