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Yale's book has stats on both the dow and the snp. The first week indicator
is based on the snp500 as best I can determine. He doesn't address the
synchronicity of the two other than to say don't let the Dow fool you. In
this regards he says to watch the weekly data:
"weekly Indicator Data (page 186 - 187). Keeping data on several indicators
may give you a better feel of the market. In addition to the closing DJIA
and its net change for the week, post the net change for Friday's DOW and
also the following Monday's. Watching their performance vis-a-vis each
other is fascinating (see pages 56, 132 and 133). Tracking either of the
S&P or NYSE composites, and advances and declines, will help prevent the DOW
from misleading you. New highs and lows are also useful indicators."
In this regards I like to track the Exhaustion index which is a percentage
of new highs / advances and new lows / declines. At this point it says a
high is not in as the nldecl is still dropping and the nhadv is still
rising. See attachment.
BobR
----- Original Message -----
From: <Jpilleafe@xxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, January 21, 2000 5:51 AM
Subject: [RT] Re: sp500 outlook jan/feb
> Bob,....
>
> Regarding Yale Hirsch's Stock Trader's
> Almanac,...do you know what Hirch's interpretation
> for the first week of January indicator would be for
> this year,...with the S&P500 having been lower,..
> and the Dow-30 having been slightly higher. Do both
> the Dow and the S&P500 have to be in synch
> for the indicator to signal a down first week...
> or is Yale's indicator focused on the S&P500, etc.
>
> Any thoughts appreciated. JIM
>
>
>
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