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INSTITECH Technical Stock Market Analysis…
INSTITECH is our proprietary technical research publication used to analyze the market in general and its constituent common stocks in particular. Created and developed by Howard Hébert in 1968, this specialized research has been produced, published and provided on a continuous basis to professional money managers
INSTITECH is a substantial array of many statistical stock market factors updated and published weekly. The following outline illustrates a general overview of technical factors produced:
- Approximately 4200 individual stocks are covered weekly, displaying for each stock:
- 3 different relative strength valuations.
- Current price.
- 2 separate moving averages.
- Dollar volume and relative dollar volume statistics.
- Bullish or bearish configuration.
- Stock symbols and the exchange where traded.
- An important feature is the construction of an unweighted index comprised of all stock issues covered and recalculated weekly. This index describes the action of the real stock market. For instance, an estimate doesn’t have to be made as to what the entire stock market is doing by observing an average of say, only 30 stocks.
- Relative Strength (RS) percentile ranking:
- An important analysis of individual price performance, RS answers the question “Is this particular stock over or under performing the market and if so – by what degree?”
- A 17 year chart of the INSTITECH unweighted market index is displayed.
- 80 Industry groups are analyzed and sorted by relative performance. A three year
history of each industry group’s performance is posted on a semi-log chart along with moving averages and more.
- A suggested “Buy” candidate list is generated and updated weekly.
- A Model Growth Portfolio is maintained with updated changes.
- The INSTITECH service also produces customized stock lists that are regularly updated and sorted alphabetically or by relative strength percentile ranking.
We utilize this output extensively in the management of our client’s portfolios. A complementary copy of the INSTITECH publication is available upon request.
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Bullish or Bearish?
Our INSTITECH technical analysis provides a description of the current market condition rather than a prediction of what will occur. We produce and publish this timely research weekly. This allows us to respond quickly to changing market conditions.
Two components make up the general market description of the Bullish or Bearish status:
- The current percentage of stocks trading above their 15 week moving average, and
- The position of the unweighted INSTITECH 4000 Index compared to it’s 30 week weighted moving average.
When both factors are positive the market is described as Bullish. When both indicators are negative the market description is Bearish. One positive and one negative factor describes the market as being Neutral.
Please Contact us for more details on our INSTITECH services. |
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