Question 1

Below are figures representing the number of stocks making new highs and new lows for each month over a 6-month period:

Month	New Highs	New Lows
July	117	22
August	95	34
September	84	41
October	64	79
November	53	98
December	19	101

Would a technical analyst consider the trend to be bullish or bearish over this period? Explain.

Question 2

You hear a market analyst on television say that the advance/decline ratio was 1.2. What does that mean ?

Question 3

You have collected the following New High (NH) New Low (NL) indicator data:

Day	NH-NL Indicator
1 (yesterday)	100
2	95
3	61
4	43
5	-15
6	-45
7	-82
8	-86
9	-92
10	-71

If you are technician following a momentum-based strategy, are you buying or selling today?