Re: What you see is NOT what you get?

["Earl Adamy" <eadamy@xxxxxxxxxx>]

I'm showing a very interesting divergence between McOscillator and Summation
based on daily a/d versus weekly a/d. The daily McOsc is showing a very nice H&S
bottom on both the Nyse and the Nasdaq which is why I suggested that we should
see a good rally here. The daily Summation has done nothing but head south for
months decrying the last rally and confirming the downside since. The weekly
McOsc is showing a rare triple decline to new lows (Nyse now at extreme -277)
which is confirmed by the weekly Summation moving to extreme new lows even as
the Nyse moved to new high. Also the weekly Overbought/Oversold based on weekly
NHighs and NLows is showing the same pattern.This weekly pattern was last seen
during 1987 well before the October debacle and previously seen in 1971-1972.

This suggests that any rally will be followed by lower lows. On a more promising
note, the Nasdaq's breadth is looking a bit stronger than the Nyse's. It remains
to be seen if this is due to a shift in sentiment or a reflection of the
extremely poor relative strength in past months.

Earl

-----Original Message-----
From: Ron Augustine <RonAug@xxxxxxxx>
To: Earl Adamy <eadamy@xxxxxxxxxx>; omega-list@xxxxxxxxxxxxxx
<omega-list@xxxxxxxxxxxxxx>
Date: Saturday, August 15, 1998 2:03 PM
Subject: Re: What you see is NOT what you get?


>
>Earl,
>
>New 52 Week Highs & Lows concur also--
>
>         NYSE             NASDAQ           TOTAL
>        HI   LO          HI   LO          HI   LO
>
>07/28   7    240         20   242         27   482
>07/29   14   193         19   201         33   394
>07/30   19   115         21   154         40   269
>07/31   12   209         21   164         33   373
>
>08/03   12   267         21   282         33   549
>08/04   5    409         10   436         15   845
>08/05   5    426         3    419         8    845
>08/06   10   217         7    218         17   435
>08/07   24   86          12   110         36   196
>
>08/10   8    70          15   29          23   99
>08/11   8    381         12   407         20   788
>08/12   18   116         17   129         35   245
>08/13   17   184         16   164         33   348
>08/14   16  *238         18  *231         34   469
>
>* Significantly less new Lows compared to last two tests of SPX 1057 area on
>8/5 & 8/11.
>(now, if Monica doesn't blow the bottom out - so to speak :)
>______________________________________
>At 07:46 AM 8/14/98 -0600, you wrote:
>>My daily McClellan Oscillators on both the NYSE and NASDAQ are
>>suggesting that a bottom is in for now, so as negative as the trends look, we
>>are likely on the cusp of a good rally here.
>
>
>