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It appears indeed that where the new companies are no longer just some exciting
schemes for speculators, but here to stay, at least for the major ones, even if
not necessarily at current valuation levels. Maybe indeed it would make sense to
combine all markets and make new indicators for the the 100 biggest caps, 500
biggest etc, irrespective of which sector/market they are in...
Gwenn
HBernst963@xxxxxxx wrote:
> There is evidence that a number of indicators no longer seem to work and
> migration from the NYSE to the NASDAQ could be the reason. The 5 day and 10
> day TRIN used to be good indications of overbought and oversold. The major
> low of 10-18-99 had the 5 day TRIN giving an overbought not an oversold
> reading as would be expected. It stayed at the overbought level all the way
> up through December. No help on that indicator.
> We all know how bad the breadth and new highs/new lows were in 1999 on the
> NYSE but over on the NASDAQ new highs have been greater than the new lows in
> the last few months. Maybe the migration has occurred and we need to somehow
> combine figures from the two exchanges to get a better idea of overbought and
> oversold.
>
> Howard Bernstein
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