[] [1] [2] [3] [4] [5] [6] [7] [8] [9] [10] [11] [12] [13] [14] [15] [16] [17] [18] [19] [20] [21] [22] [23] [24] [25] [26] [27] [28] [29] [30] [31] [32] [33] [34] [35] [36] [37] [38] [39] [40] [41] [42] [43] [44] [45] [46] [47] [48] [49] [50] [51] [52] [53] [54] [55] [56] [57] [58] [59] [60] [61] [62] [63] [64] [65] [66] [67] [68] [69] [70] [71] [72] [73] [74] [75] [76] [77] [78] [79] [80] [81] [82] [83] [84] [85] [86] [87] [88] [89] [90] [91] [92] [93] [94] [95] [96] [97] [98] [99] [100] [101] [102] [103] [ 104 ] [105] [106] [107] [108] [109] [110] [111] [112] [113] [114] [115] [116] [117] [118] [119] [120] [121] [122] [123] [124] [125] [126] [127] [128] [129] [130] [131] [132] [133] [134] [135] [136] [137] [138] [139] [140] [141] [142] [143] [144] [145] [146] [147] [148] [149] [150] [151] [152] [153] [154] [155] [156] [157] [158] [159] [160] [161] [162] [163] [164] [165] [166] [167] [168] [169] [170] [171] [172] [173] [174] [175] [176] [177] [178] [179] [180] [181] [182] [183] [184] [185] [186] [187] [188] [189] [190] [191] [192] [193] [194]


104

/

(New High/New Low Ratio)

/ , , , . NYSE.

, 1978 , , 52 . «» 2 1/2 14 1/2 . 1 1 . 1 .

, , / 1962 1987 1937 1987 . / 10 . . N-8-N-11 (. 311-314).

. 20 , . ( 1 , 3 , 6 12 ). , , (- ) ( Standard & Poors 500). .

, , - . , 25 / 40 , ( S&P 500) 0.58% 1 , 2.17% 3 , 4.16% 6 9.24% 12 . . N-12 (. 315). ,



. N-8:

/

/ -

: 1962 - 1987

1

3

6

12

0.000

0.020

0.020

0.060

0.060

0.122

1

0.122

0.208

1

0.208

0.328

1

0.328

0.500

1

0.500

0.714

0.714

1.000

1

1.000

1.350

1

1.350

1.867

1

1.867

2.452

1

2.452

3.167

3.167

4.077

4.077

5.364

1

5.364

7.182

1

1

7.182

9.833

1

1

9.833

14.455

1

14.455

21.667

21.667

43.000

43.000

527.000

« », «», « », «» « », «», « » .

, 3 40 , .



. N-9:

/

/ - : 1962 - 1987

0.000 0.059 0.118 0.215 0.344 0.495 0.688 1.011 1.401 1.839 2.446 3129 3.872 5.027 6.389 8.187 11.357 16.098 24.782 42.748

0.059 0.118 0.215 0.344 0.495 0.688 1.011 1.401 1.839 2.446 3.129 3.872 5.027 6.389 8.187 11.357 16.098 24.782 42.748 184.967

1

3

6

12

1 1 1 1 1 1 1 10 1 1 1 1

1 10 10 1 1 1 1 1 1

1 1 1 1

1 1 1 1 1 1 1 1 1

1 1 1 10

1 1 1 1 1 1 1 1 10

1 10 1 1 1 1

« », «», « », «», « », «», « » .

[] [1] [2] [3] [4] [5] [6] [7] [8] [9] [10] [11] [12] [13] [14] [15] [16] [17] [18] [19] [20] [21] [22] [23] [24] [25] [26] [27] [28] [29] [30] [31] [32] [33] [34] [35] [36] [37] [38] [39] [40] [41] [42] [43] [44] [45] [46] [47] [48] [49] [50] [51] [52] [53] [54] [55] [56] [57] [58] [59] [60] [61] [62] [63] [64] [65] [66] [67] [68] [69] [70] [71] [72] [73] [74] [75] [76] [77] [78] [79] [80] [81] [82] [83] [84] [85] [86] [87] [88] [89] [90] [91] [92] [93] [94] [95] [96] [97] [98] [99] [100] [101] [102] [103] [ 104 ] [105] [106] [107] [108] [109] [110] [111] [112] [113] [114] [115] [116] [117] [118] [119] [120] [121] [122] [123] [124] [125] [126] [127] [128] [129] [130] [131] [132] [133] [134] [135] [136] [137] [138] [139] [140] [141] [142] [143] [144] [145] [146] [147] [148] [149] [150] [151] [152] [153] [154] [155] [156] [157] [158] [159] [160] [161] [162] [163] [164] [165] [166] [167] [168] [169] [170] [171] [172] [173] [174] [175] [176] [177] [178] [179] [180] [181] [182] [183] [184] [185] [186] [187] [188] [189] [190] [191] [192] [193] [194]