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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

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Nov 21 4:00 PM EST

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To: Investor2 who wrote (12157)	4/27/1999 10:31:00 PM
From: Les H	Read Replies (1) of 99985

The Dow is already in a climax run similar to the Nasdaq 100 in January. The Dow's been above the top band of its 28-week AIQ trading bands (90% trading bands) now for 3 days. The Nasdaq was above it for about 4 weeks in early January before a 12% correction. No guarantee that it will last for 4 weeks here. This is a weird market. Today's Nasdaq 100 stocks had a broad number of sell signals similar to April 7 and March 19. 3/19 4/07 4/27 Stoch 9-3 2-12% 0-17% 0-12% Stoch 14-3 1-19% 1-12% 0-13% Stoch 21-3 2-16% 1-17% 0-14% 5d Wilder RSI 2-21% 4-11% 0-15% NDX peak 2121 2251 2283 NDX trough 1943 1967 ? percentage -8% -13% ? peak-trough days 3 7 ? No such broad number of sell signals in the broad market or in the S&P 500, as can be expected from the positive breadth. More rotation.

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