Chartcraft Weekend Report:
-Chartcraft's Master Indicator moved to positive territory giving a buy signal. The TIR Master is a long term indicator that is computed weekly. It's made up of over 100 technical and some fundamental items with an emphasis on the components that have predictive value. This move from -11 --> +66 1/2 will cause them to raise their invested position on Monday. I'll post the stock or mutual fund recommendations Tuesday morning.
-Each daily advance/decline line is now above where it was 10 days ago. This is bullish. The NYSE A/D line is on a low pole buy signal.
-Technical Indications:
Bear Traps (stock gives a triple bottom sell and reverses up into a column of X's without dropping another box-this is bullish): Ross Stores, Global Marine
Bull Traps (stock gives a triple top buy signal and reverses down into a column of O's without rising another box after the buy signal-this is bearish): Sprint
RS Buy Signals: Fore Systems, Cablevision, NTL Inc.
RS Sell Signals: Cliffs Drilling, Newpark Resources (both of these oil sector stocks have been bullish since April/May '96 and this RS Sell signal is a bearish event for both stocks), Nuskin Asia, Transition, Vantive Corp.
Bullish RS Reversing to an Up Column: Burlington Coat, SLM, At Home
Bearish RS Reversing to a Down Colun: Autodesk, Danka Business, Dress Barn, Shell Transport, Sola International
RS Buy Alerts (one boix away from a relative strength buy signal): Equitable Co's, Copart, JB Hunt, Nordstrom, Zebra Tech.
RS Sell Alerts: Linear Technology, Cooper Cameron, Lone Star Technology, Cytec, Coltec
Buying Climaxes (12): Verity
Selling Climaxes (54): Boeing, Lone Star Tech, National Semi, Phelps Dodge, North American Vaccine, Adflex Solutions, Etec Systems, Oak Tech, Security Dynamics
Bruce |
