MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.92

+0.1%

Nov 7 4:00 PM EST

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To: pater tenebrarum who wrote (37278)	1/12/2000 12:43:00 PM
From: Jorj X Mckie	Read Replies (1) of 99985

There is one for the Naz and it is positive. There are also bullish percent charts for all of the different sectors. The bullish percent chart acts as a contrary indicator to the charts for the individual issues that look the most bullish at the top. An example is that the BP chart for the semis looks very overbought. But traditionally it can stay there for a while and even go up further. Either way, I am staying away from semis because a correction there can be nasty. The nuts are actually at a healthy level, but the BP chart is negative, but with the other indicators turning positive, I am looking for a turnaround.....but it hasn't happened yet. JXM

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