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<DIV><FONT size=2>Here is an interesting little gem from the TASC Jan 1991 issue
PG 18. The Trend Exhaustion Index by Clifford Creel appears to catch the
major trend changes. "The index is constructed by dividing the NYSE new
highs by the NYSE advances each day and plotting a 10 day exponential moving
average of this value." ELA is attached along with a .gif from 1986 - 1987
and another for comparison 1998 - 1999. The shocking thing is the TEI
never did recover from the 1998 low and actually started decaying in 1997.
TEI will track along near zero until the next upswing starts...something to
watch for going into 2000.</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>{Trend Strength Index}</FONT></DIV>
<DIV><FONT size=2>{index in data1, new highs in data2, advancing issues in
data3}<BR>Inputs: Price1(c of data2),Price2(c of data3);<BR>Vars:
TEI(0);</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=2>If price2<>0 then<BR>TEI=TEI[1] + 0.18*(price1/price2
-TEI[1]);</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=2>plot1(TEI,"TEI");<BR></FONT></DIV></BODY></HTML>
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