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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Lee Lichterman III who wrote (20995)	7/24/1999 11:07:00 AM
From: Les H	Read Replies (2) \| Respond to of 99985

I've got 82% buy signals in the Unconfirmed Signals in the AIQ market log as of close Friday. Normally, above 80% the market would rally (as in over 80% buy signals) or pullback (as in over 80% sell signals). Caveat is that the ratio could go higher. At the low of 2270 on the Nasdaq 100, I had following percentages for stocks above moving averages: NDX 2270 NDX close 10d MA 8% 25% 21d MA 22% 45% 50d MA 58% 66% 200d MA 75% 78% The AIQ RSI (7 day EMA version) is at 32 and shows the downsold is likely limited to 2270 (40d EMA) or next around 2250. The RSI-5 and TRIN-5 are also indicating a bottom is near. Perhaps, another pre-Greenspan pullback before the 28th will drive these a little lower.