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By Joel G. Siegel, Visit Amazon's Jae K. Shim Page, search results, Learn about Author Central, Jae K. Shim, , Anique Qureshi, Jeffrey Brauchler

First released in 2000. Routledge is an imprint of Taylor & Francis, an informa corporation

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Thus, if investment advisors are very bullish, sell. If they are very bearish, buy. In a falling market or one near a possible bottom, the slightest turn to bullishness could be a buying signal. At such a low point for stocks, watch for any hint that bearish sentiment is ebbing. In calculating the bull/bear ratio, we ignore investment advisors who are neutral. The ratio equals: Bullish advisors Total bullish and bearish advisors Another form of the ratio that may be useful to examine is: International Encyclopedia of Technical Analysis 44 Bullish advisors Bearish advisors Bullish consensus is based on a weekly survey of newsletter writers carried out by Hadady Publications (Pasadena, California).

BIG MAC IN D E X McDonald’s Corporation’s Big Mac sandwich is the basis for the Big Mac Index that helps explain global foreign exchange rates. Comparing the cost of a sandwich at different prices worldwide at current exchange rates ignores the impact of foreign central bank intervention and trade deficits. A comparison of the cost of a Big Mac in New York with over­ seas prices indicates the strength or weakness of foreign currencies against the dollar. BLOW OFF An occurrence at a major market top in which prices and trading abrupt­ ly rally significantly after a long advance.

U N C H A N G E D ISSU ES INDEX The unchanged issues index equals the number of unchanged issues divided by the total number of issues traded. The computation is based on daily or weekly NYSE data. It is presumed that stock prices form tops over extended time periods but quickly bottom out. Hence, the ratio should be high before a market top and low before a market bottom. U P S ID E -D O W N S ID E INDICA TO R We can similarly calculate the upside-downside indicator by subtracting the daily volume of declining stocks from the daily volume of advancing stocks.

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