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Here is the same TEI chart again with a ten day smoothing. Previous chart
had a smooth of 1.0 for max sensitivity and this attached one has a .18
factor for a tend day smoothing. The equation from Stocks and Commodities
January 1991 is TEI = TEI[1] + 0.18*((new highs/advancing issues) - TEI[1]).
If the NASDAQ attempts another low in November, then the height of the red
TEI will be quite instructive.
BobR
-----Original Message-----
From: BobR <bobrabcd@xxxxxxxxxxxxx>
To: realtraders@xxxxxxxxxxx <realtraders@xxxxxxxxxxx>
Date: Saturday, October 28, 2000 8:48 PM
Subject: [RT] Market - NASDAQ trend exhaustion
>Thanks to Earl and Ben for providing the Nasdaq new high and low data.
Sure
>does look like the low is in for the Nasdaq as its Trend Exhaustion has
>formed the signature lower highs. The green TEI will start rising as the
>new highs start increasing as a percentage of newhighs/advancing issues
>increases. The TEI for the NYA looks similar.
>
>BobR
>
>
>To unsubscribe from this group, send an email to:
>realtraders-unsubscribe@xxxxxxxxxxx
>
>
>
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Attachment:
Description: "NazTEI2.gif"
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