20 replies to this topic

[tommyt]

anyone follow the NYSE bullish percent? Dorsey Wright uses it very effectively for trading and yesterday it went to sell...its not a short term thing, only gives 1-2 signals a year. But typically since it requires a 6% drop to trigger, you get a ST rally on the signal , then tank...still nursing a small long position and raising stops.

[hiker]

yes, below 70% on NYSE

Ted Burge highlights it on first page -

NYSE bullish percent has dropped below 70%.

http://stockcharts.c...et?obj=ID445101

note that QQQQ has failed so far today near 47.65 horizontal he shows on chart

Edited by hiker, 28 June 2007 - 09:41 AM.

[tommyt]

Hiker...thanks, DW doesn't use 70%, but a 6% drop from whatever high. In this case from over 70%.

[hiker]

I have followed Ted's chart work and comments for about 3+ years, and he references the 6% rule as you state but must be coming from above 70% or below 30% if my memory serves to be a valid trend change signal 988k ask size on CSCO at 28..I daytraded this one long today but am not going fight 28..that is ask size for only ine...large size at others at 28

Edited by hiker, 28 June 2007 - 09:53 AM.

[Mr Dev]

I actually use the chart in my analysis three weeks ago to help formulate the sell-off and the Crash Warning. Well before the decline in the BP just the other day it had shown some internal venerabilities only shown near tops and crashes... the recent decline in itself is not a short term signal imho..as history shows it can quickly reverse up to another buy. However,...history again shows me that if that were to happen under these types of conditions it would re introduce... the Crash Warning I put out three weeks ago. So I guess it really depends on what kind of trader you are.....or think you are. I couldn't hold a trade for as long as that signal would allow...either up or down. And the signals been FLAT for at least a month .. I also don't think that all the good signals ....that used to work like a charm...are not working as well.... with the invent of the internet ...to many trading know all they need to know... as far as the basic indicators go. I'm always looking for the ones that show good signs of working just ahead of the market...that Very FEW know or follows!

Edited by Mr Dev, 28 June 2007 - 10:00 AM.

[selecto]

Anybody got a back-test on that?

[hiker]

Ted Burge is good about replying to emails, even if it takes him a few days. you may want to ask him. he is a good guy.

[eminimee]

I think you are both right really...it's a 6% drop from above 70% but the drop must come under 70% ...in other words if the bullish percentage was at 80% and you had a 6% drop of 4.8 percent...it wouldn't trigger the sell....it would have to come back below 70%. That's the way I understand it anyways.

[hiker]

my understanding too, Tea...thanks for addl details

[da_cheif]

we gotta long way to go......
http://www.investorh...es2/Kirk299.pdf