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Dorsey, Wright & Associates

Money M anagement

Voice

(804) 320-8511

Fax

(804) 320-8577

Voice: Fax: Email:

  • (626)

    535-0630

  • (626)

    535-0639

Email: dwa@dorseywright.com

moneymanagement@dorseywright.com

For Monday, August 20, 2007

Today's Market Comment will include the following:

  • Were You Aware...?

  • From the Money Managers: O’Shaughnessy Update

  • Finding Value in Growth

  • Market Observations: 1998 -- Fed Moves, HILO, and BPNYSE

  • Market Observations: In Case you Thought Bottoms Were Easy (2002)

  • Market Observations: PT Chart in X's Hits 0

  • Major Market Index Technical Picture

  • DWA Equity Roster

  • Statistically Significant Technical Breakouts

  • Stocks Close to a Technical Breakout

  • Educational Corner

  • Daily Option Ideas

Were You Aware...?

The last intraday reading on the NYSE Bullish Percent [BPNYSE] Friday afternoon suggested this indicator will uptick to the tune of about 5%. This is not enough for a reversal, but does certainly bring such a change into arm's reach (roughly 2.4% away from the reading of 36% needed for a change in column). Meanwhile, the preliminary number high-low numbers on Friday showed 22 new highs on the NYSE Friday, but still 88 new lows, a ratio that will not trigger a reversal on NYSE high-low index [HILO]. Both of these indicators have reached historically washed-out conditions, and one thing we will focus upon in today's report are observations from similar instances within the last 10 years. At least from 1998 and 2002 we clearly see a market bottom is not an event, but rather a process.

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