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One way to view the new highs new lows is as a percentage of NH/(NH+NL).
There are three distinct zones, mkt trendingup and at highs, middle zone,
mkt trending down and making lows. The ratio is like 0.7 and higher at the
highs, 0.3 or less at the lows. In between the mkt is in transition. At
the moment the Nasdaq and related groupings have dropped out of the bullish
zone and are migrating lower across the mid zone. This looks kinda bearish
to me.
bobr
----- Original Message -----
From: "metatrader108" <metatrader108@xxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, May 03, 2002 8:15 AM
Subject: Re: [RT] ndx bottom
> What about nasdaq making new low on weekly fast?
>
> --- In realtraders@xxxx, "Lee Morris" <LMorris@xxxx> wrote:
> > I have not tested this but it is my sense that you seldom make
> significant
> > lows on fri and to a lesser extent on mondays. Does anyone have any
> firm
> > stats on this. Turn-a-round Tuesday has always had a nice sound to
> it.
> > -----Original Message-----
> > From: profitok [mailto:profitok@x...]
> > Sent: Friday, May 03, 2002 12:16 AM
> > To: realtraders@xxxx
> > Cc: gannsghost@xxxx
> > Subject: [RT] ndx bottom
> >
> >
> > Tomorrow we SHOULD make a lower low
> > and then up
> > my work suggests that even if we make a lower low Monday,, that
> should
> > be it,,
> > the graph attached is showing (proprietary) we are closer to a
> bottom,,
> > nice trading tomorrow
> > good week end
> > Ben
> >
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Attachment:
Description: "NHNLexch.gif"
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