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----- Original Message -----
From: <A
title=mike-burk@xxxxxxxxxxxxxxxxxxxxxx
href="">Mike Burk ; <A
title=mike-burk@xxxxxxxxxxxxxxxxxxxxxx
href="">Mike Burk
To: <A title=mike-burk@xxxxxxxxxxxxxxxxxxxxxx
href="">Mike Burk
Sent: Saturday, July 17, 2004 9:25 AM
Subject: 7/17 Report
<A
name=OLE_LINK4><A
name=OLE_LINK1><SPAN
><SPAN
>Technical market report for July 17,
2004
<SPAN
><SPAN
><SPAN
>The good news
is:
<LI class=MsoNormal
><SPAN
><SPAN
><SPAN
>NYSE new highs are increasing
rapidly.
<LI class=MsoNormal
><SPAN
><SPAN
><SPAN
>There will be a good buying opportunity when
this decline ends.
<SPAN
><SPAN
><SPAN
>
<SPAN
><SPAN
><SPAN
>Net Field Trend (NFT) was developed by Joseph
Granville. It is calculated by
subtracting the number of issues in negative trends from those in positive
trends. A positive trend is defined
as two progressively higher highs and higher lows in On Balance Volume (OBV)
while a negative trend is defined as two progressively lower highs and lower
lows in OBV. OBV is calculated by
subtracting the total volume of an issue from a running total on down days and
adding it to the running total on up days.The chart below shows
the Russell 2000 (R2K) and the NFT of its component issues.<SPAN
> The first group of arrows point to two
index lows earlier this year that were unconfirmed by NFT, both were followed by
significant rallies. The last arrow
points to NFT making a new low on Friday suggesting there is more to the
downside of this move.
<SPAN
><SPAN
><SPAN
><v:shapetype id=_x0000_t75
coordsize="21600,21600" o:spt="75" o:preferrelative="t"
path="m@x@5l@x@11@x@11@x@5xe" filled="f" stroked="f"><v:stroke
joinstyle="miter"><v:f
eqn="if lineDrawn pixelLineWidth 0"><v:f
eqn="sum 0 0 @1"><v:f
eqn="prod @3 21600 pixelWidth"><v:f
eqn="prod @3 21600 pixelHeight"><v:f
eqn="prod @6 1 2"><v:f
eqn="sum @8 21600 0"><v:f
eqn="sum @10 21600 0"><v:path o:extrusionok="f"
gradientshapeok="t" o:connecttype="rect"><o:lock v:ext="edit"
aspectratio="t"><v:shape id=_x0000_i1025
type="#_x0000_t75"><v:imagedata
src=""
o:title="R2K-NFT"><IMG
src="gif00194.gif">
<SPAN
><SPAN
><SPAN
>Summation indices (SI) are running totals of
oscillator values. When an
oscillator is above 0 the SI rises, when it is below 0 the SI falls.<BR
clear=all>The chart below shows SI’s from oscillators of NASDAQ advances and
declines, new highs and new lows and upside and downside volume.<SPAN
> When these indicators are all heading in
the same direction it is imprudent to bet against them and they are all heading
downward.
<SPAN
><SPAN
><SPAN
><v:shape id=_x0000_i1026
type="#_x0000_t75"><v:imagedata
src=""
o:title="OTC-All-SIs"><IMG
src="gif00195.gif">
<SPAN
><SPAN
><SPAN
>Last Friday was options expiration.<BR
clear=all>As the tables below show, the week after July options expiration has
not been favorable to stocks.
<SPAN
><SPAN
><SPAN
><SPAN
>The
week after July options expiration.The number following the year
is its position in the presidential cycle.R2K<BR
clear=all>Year<SPAN
> Mon<SPAN
> Tue<SPAN
> Wed<SPAN
> Thur<SPAN
> Fri<BR
clear=all>1989-1 -0.52%<SPAN
> -0.12%<SPAN
> 0.35%<SPAN
> 0.48%<SPAN
> -0.06%1990-2<SPAN
> -2.36%<SPAN
> 0.22%<SPAN
> 0.28%<SPAN
> 0.24%<SPAN
> -0.55%1991-3<SPAN
> -0.26%<SPAN
> -0.68%<SPAN
> -0.63%<SPAN
> 0.23%<SPAN
> 0.06%1992-4<SPAN
> 0.07%<SPAN
> 0.93%<SPAN
> 0.78%<SPAN
> 0.44%<SPAN
> 0.47%1993-1<SPAN
> -0.55%<SPAN
> 0.05%<SPAN
> -0.03%<SPAN
> -0.49%<SPAN
> 0.24%1994-2<SPAN
> -0.01%<SPAN
> -0.13%<SPAN
> -0.66%<SPAN
> 0.11%<SPAN
> -0.24%1995-3<SPAN
> 0.98%<SPAN
> 0.45%<SPAN
> 0.48%<SPAN
> 0.89%<SPAN
> 0.16%1996-4<SPAN
> -1.21%<SPAN
> -1.87%<SPAN
> -1.26%<SPAN
> 1.23%<SPAN
> 0.96%1997-1<SPAN
> 0.03%<SPAN
> 0.29%<SPAN
> 0.87%<SPAN
> 0.25%<SPAN
> -0.07%1998-2<SPAN
> -1.24%<SPAN
> -1.30%<SPAN
> -0.32%<SPAN
> 0.78%<SPAN
> -2.27%1999-3<SPAN
> -0.84%<SPAN
> -1.69%<SPAN
> 0.24%<SPAN
> -0.69%<SPAN
> -0.69%2000-4<SPAN
> -1.62%<SPAN
> 0.02%<SPAN
> -0.10%<SPAN
> -2.37%<SPAN
> -2.27%2001-1<SPAN
> -1.07%<SPAN
> -1.75%<SPAN
> 0.58%<SPAN
> 1.69%<SPAN
> -0.01%2002-2<SPAN
> -1.70%<SPAN
> -4.13%<SPAN
> 4.01%<SPAN
> -0.12%<SPAN
> 1.10%2003-3<SPAN
> 1.06%<SPAN
> -0.05%<SPAN
> -0.17%<SPAN
> 0.68%<SPAN
> -1.67%<BR
clear=all>Avg
-0.62% -0.65%<SPAN
> 0.29%<SPAN
> 0.22%<SPAN
> -0.32%Win%<SPAN
> 27%<SPAN
> 40%<SPAN
> 53%<SPAN
> 73%<SPAN
> 40%<BR
clear=all>
<SPAN
><SPAN
><SPAN
><SPAN
><SPAN
> SPXYear<SPAN
> Mon<SPAN
> Tue<SPAN
> Wed<SPAN
> Thur<SPAN
> Fri<BR
clear=all>1989-1 -0.66%<SPAN
> 0.06%<SPAN
> 1.25%<SPAN
> 1.17%<SPAN
> 0.05%1990-2<SPAN
> -1.74%<SPAN
> 0.14%<SPAN
> 0.37%<SPAN
> -0.33%<SPAN
> -0.69%1991-3<SPAN
> -0.35%<SPAN
> -0.90%<SPAN
> -0.21%<SPAN
> 0.61%<SPAN
> -0.01%1992-4<SPAN
> -0.01%<SPAN
> 1.45%<SPAN
> 1.13%<SPAN
> 0.40%<SPAN
> 0.07%1993-1<SPAN
> 0.06%<SPAN
> 0.29%<SPAN
> -0.03%<SPAN
> -0.60%<SPAN
> 0.58%1994-2<SPAN
> 0.23%<SPAN
> -0.30%<SPAN
> -0.50%<SPAN
> 0.22%<SPAN
> 0.11%1995-3<SPAN
> 0.54%<SPAN
> 0.80%<SPAN
> 0.09%<SPAN
> 0.64%<SPAN
> -0.41%1996-4<SPAN
> -0.78%<SPAN
> -1.09%<SPAN
> -0.04%<SPAN
> 0.72%<SPAN
> 0.75%1997-1<SPAN
> -0.25%<SPAN
> 0.62%<SPAN
> 1.06%<SPAN
> 0.21%<SPAN
> -0.75%1998-2<SPAN
> 0.57%<SPAN
> -1.48%<SPAN
> -0.45%<SPAN
> 1.58%<SPAN
> -1.95%1999-3<SPAN
> -0.78%<SPAN
> -2.17%<SPAN
> 0.16%<SPAN
> -1.33%<SPAN
> -0.30%2000-4<SPAN
> -1.07%<SPAN
> 0.70%<SPAN
> -1.50%<SPAN
> -0.19%<SPAN
> -2.05%2001-1<SPAN
> -1.64%<SPAN
> -1.63%<SPAN
> 1.61%<SPAN
> 1.04%<SPAN
> 0.24%2002-2<SPAN
> -3.29%<SPAN
> -2.70%<SPAN
> 5.73%<SPAN
> -0.56%<SPAN
> 1.69%2003-3<SPAN
> -0.22%<SPAN
> -0.73%<SPAN
> -0.18%<SPAN
> 0.29%<SPAN
> -1.03%<BR
clear=all>Avg
-0.63% -0.46%<SPAN
> 0.57%<SPAN
> 0.26%<SPAN
> -0.25%Win%<SPAN
> 27%<SPAN
> 47%<SPAN
> 53%<SPAN
> 67%<SPAN
>
47%
<SPAN
><SPAN
><SPAN
>I expect the major indices to be
lower on Friday July 23 than they were on Friday July
16.
<SPAN
><SPAN
><SPAN
>This report is free to anyone who wants it, so
please tell your friends.They can sign up
at:http://www.guaranteed-profits.comIf it is not for you, reply with
REMOVE in the subject line.Thank you,Mike Burk
W9/L14/T5
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