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Thanks Bill,
In answer to your questions: Yup & Yup. The others on the list can
see from your table the decrease that I mentioned.
I no longer suspect a data problem. Thanks to IanR who said that he
saw the same discrepancy in data from a different provider.
DaveZ's theory that the move to 1/32nds made it harder for stocks to
remain "unchanged" makes the most sense to me. I used Excel to verify
that there _is_ a corresponding increase in the "Advancing Issues" and
"Declining Issues" during the time period in question.
My original theory was that the NYSE had delisted a bunch of stocks at
the same time - but there is no corresponding decrease in the "NYSE
Total Issues Traded" data, so that theory is probably wrong.
Bottom line is that people should be cautious about using market
breadth indicators that rely on NYSE Advances, Declines, or Unchanged
data from the middle of last year.
In case you haven't guessed, I'm working on adding sentiment
indicators including A-D Lines and Arms/TRIN indicators to my chart
site. By the end of this week, you should be able to see these for
both the NYSE and the NASDAQ up on http://coolhistory.com/ChipsCharts
Chip
Wireless in Seattle via MCOM Ricochet
---Bill Forman <wforman@xxxxxxxxx> wrote:
>
> Chip,
>
> Are you using the symbol X.NYSE-U for RTD? Here is the data I just
> collected using this symbol. Does this approximate the data you have?
>
> 06/17/1997 901.000 901.000 901.000 901.000 585244
> 06/18/1997 868.000 868.000 868.000 868.000 454422
> 06/19/1997 835.000 835.000 835.000 835.000 529528
> 06/20/1997 788.000 788.000 788.000 788.000 636258
> 06/23/1997 776.000 776.000 776.000 776.000 321772
> 06/24/1997 629.000 629.000 629.000 629.000 273426
> 06/25/1997 555.000 555.000 555.000 555.000 437102
> 06/26/1997 615.000 615.000 615.000 615.000 353967
> 06/27/1997 610.000 610.000 610.000 610.000 326658
> 06/30/1997 565.000 565.000 565.000 565.000 304009
> 07/01/1997 546.000 546.000 546.000 546.000 238117
> 07/02/1997 570.000 570.000 570.000 570.000 349217
> 07/03/1997 575.000 575.000 575.000 575.000 312034
> 07/07/1997 537.000 537.000 537.000 537.000 277688
> 07/08/1997 585.000 585.000 585.000 585.000 298742
> 07/09/1997 549.000 549.000 549.000 549.000 297084
> 07/10/1997 561.000 561.000 561.000 561.000 382167
>
>
> Equis Support
>
>
> > -----Original Message-----
> > From: Chip Anderson [SMTP:chipamy@xxxxxxxxx]
> > Sent: Thursday, January 22, 1998 9:18 AM
> > To: metastock-list@xxxxxxxxx
> > Subject: NYSE Unchanged data
> >
> > I've been looking at the NYSE Advancing, Declining, and Unchanged
> > Issues data and noticed something peculiar. There is a sharp
decline
> > in the "Unchanged" data immediately after 6/20/97. Before then, the
> > 20-day MA hovered between 700 and 800 going back several years. But
> > after 6/20/97 it appears to fall off of a cliff and eventually
> > stabilizes between 450 and 550. The chart looks just like a chart
> > that hasn't been adjusted for a stock split. The Unchanged volume
> > data shows a similar (percentage-wise) decline.
> >
> > (FWIW, I don't notice similar changes in the Advancing Issues or
> > Declining Issues charts during the same timeframe.)
> >
> > Two questions:
> > 1.) Does anyone else see this same pattern, or is it a data
problem?
> > I'm using Reuter's Trend Datalink. Does data from a different
> > provider show the same decrease?
> >
> > 2.) Assuming the data is accurate, what could explain this? Did the
> > NYSE kick out a bunch of low volume stocks after 6/20/97?
> >
> > Thanks in advance,
> > Chip
> > http://coolhistory.com/ChipsCharts
>
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