Bottoming vs. Topping Pattern Index for Stocks???

["Steven Buss" <sbuss@xxxxxxxxxxx>]

Considering the topping patterns that are evident in the Dow, Nasdaq, etc.
I've been analyzing and buying puts on a few stocks with what appear to be
confirmed topping patterns.  (The idea is that, in addition to the
individual stock showing a topping pattern, the risk of being wrong in
topping pattern identification for the individual stock is lessened by the
downward trend of the general market.)

Which leads me to my question:  Does there already exist something like a
"Bottoming vs. Topping Pattern Index" for individual stocks?  It seems to me
that, if such an index already exists, it would be something like the
following:

The number of stocks with a close less than 1.2 times their 250 day Lowest
Low Value divided by the number of stocks with a close greater than .8 times
their 250 day Highest High Value.  (Of course, this index could be expressed
in terms of a "Topping vs. Bottoming Pattern Index.")  I'm not clear whether
it would be important to figure in the total number of stocks in the set of
stocks being considered.

I had thought that perhaps what this idea was was merely the ratio between
the number of stocks making new lows vs. the number making new highs.  But I
don't think that's what this is.  The point is to get a handle on a
Bottoming vs. Topping ratio and not new lows/highs.

I'd appreciate direction or thoughts about this.

Steven Buss
sbuss@xxxxxxxxxxx
Walnut Creek, CA