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PJLaird and RT's
Enclosed is a .gif of a set of internals that I just started keeping.
The top line is a line graph of half hour OEX.
The middle is a line graph of cumulative Advance Minus Decline.
the lower is a line graph of cumulative Advancing Minus Declining
volume.
What I was trying to express was the observation that top on 7.31 only
really lasted
for a day. Price slowly waffled up, internals went up with seemingly
more conviction
I would suggest that they presaged price break out by an evening.
I was thinking that even thought GE represents what, 5 to 7 percent of
the market cap, that its action was being dampened by the other 3000 or
so issues in the NYSE.
This decline we have now is more teneious. I will be curious to see if
the cumulative
volume will find support in that area formed from 7/23 to 7/29. (of the
lower graph) It might be a kind of invisible support. I say curious
since I started collecting this stuff since 5/19 or so and haven't seen
its behaviour at intemedite tops or bottoms.
Keep obsessing over GE.. I wouldn't call it an index but rather a magnet
for money that beleives in the kind of paradigm that GE represents..
Perhaps Norman Winski has some astro calculations on GE and could shed
light on whether or not GE is stumbling here or .. just sulking for a
bit.<g>
respectfully,
Don
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