Market Bullish Percents have turned positive.
This could be the fuel that gets us to Roy's
1336+. The following is from Dorsey Wright:
All of the following have reversed up on their
respective charts:
- OTC Ten Week MA [TWOTC]
- NYSE Ten Week MA [TWNYSE]
- NDX Bullish Percent [BPNDX]
- S&P 500 Bullish Percent [BPSPX]
- OTC High Low Index [OTCHILO]
- NYSE 30 Week MA [30NYSE]
- OTC 30 Week MA [30OTC]
- NYSE High Low Index [HILO]
- NYSE Bullish Percent -BPNYSE]
- Option Stock Bullish Percent [BPOPTI]
- Weekly Distribution for All Stocks [WDALL] (pictured
below)
The
improvement in the market indicators is confirmed by some of the improvement
we have seen in the sector indicators. In Monday?s Report we began talking about this improvement in
both the reversal up in the S&P 500 Bullish Percent as well as a number of
Sector Bullish Percents reversing up, all of which are going back to offense
from very low levels. As a matter of fact, just a couple of weeks ago there
were only four sector bullish percent charts that were in a column of X?s, and
as we look at the sector bell curve (shown below) there are currently 18 out
of the 40 sector bullish percent charts in a column of X?s, suggesting that
demand is moving back into control. Interestingly enough, all of these sectors
that have reversed back into X?s are doing so with great field position.
Therefore, we are seeing many sectors regain possession of the football with
low risk.
-----Original Message-----
From:
TimeandCycles@yahoogroups.com
[mailto:TimeandCycles@xxxxxxxxxxxxcom] On Behalf Of EDWARD
MOYER
Sent: Tuesday, July 22, 2008 7:39 PM
To:
TimeandCycles@yahoogroups.com
Subject: Re: [TimeandCycles] Re:
Murrey Math SPX July 22
Interesting, next Tuesday is Jerry R's high, and he
called today's low yesterday. The iceman
cometh.
--- On Tue, 7/22/08, rwoith
<rwoith@xxxxxxcom> wrote:
> From: rwoith
<rwoith@xxxxxxcom>
> Subject: [TimeandCycles] Re: Murrey Math SPX July
22
> To:
TimeandCycles@yahoogroups.com
> Date: Tuesday, July 22, 2008, 7:37
PM
> It's almost comical. Look at SKF - down from 211
to now
> 120. I guess
> that's what happens when they do not allow you to
short
> them. That;s
> the good news - the bad news is that there are
probably
> very few shorts
> that haven't been squeexed out - and
the
> "Rule" is set to expire next
> Tuesday. Lord help the banks when that happens --
if not
> before. XLF
> stopped today at a 50% retrace of the move down
from 5/02
> to 7/15.
> Heck, Wachovia reported a hugh loss this morning
- down
> almost 30% in
> the premarket and then rallied to close up BIG!!
Whata
> World. --- In
> TimeandCycles@yahoogroups.com,
bearlythere4444
> <no_reply@xxx>
wrote:
> >
> >
> > RE: Move is long in the
tooth...
> >
> > How does everyone get so excited about the
banks
> TODAY?
> >
> > I was long WFC last week at 20.50, out at
26.50
> >
> > What should I think about someone who
thought it was a
> sale at 20.50
> > last week and a buy today at
30.50?
> >
> > Compare also the the "surge" at the end
of
> January.
> >
------------------------------------
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