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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 671.910.0%Nov 14 4:00 PM EST
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To: Haim R. Branisteanu who wrote (4130)1/18/1999 3:34:00 PM
From: Les H  Read Replies (1) of 99985
 
16% of stocks (out of 3484 stocks) triggered 5-day RSI buy signals on Friday alone. This is the first day since late December when reversal buy signals outnumbered reversal sell signals. These are good for very short-term trades. For the day it was about 16-to-1 ratio of new buys (cross above 30) to new sells (cross below 70) on a day when the Russell 2000 appears to have completed its retest of the 200-day moving average. Other shorter-term signals, such as 8-17-9 MACD and 9-day Stochastic, also had majority buy signals but they tend to lag the 5-day RSI.
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