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

To: Les H who wrote (58869)	9/12/2000 12:28:44 AM
From: Les H	Read Replies (2) \| Respond to of 99985

Abbreviated Market/Sector Breadth Journal: September 11, 2000 (4016 stocks) Summary: Unconfirmed Signals for Nasdaq 100 moved to 75-25 (buys-to-sells), S&P 100 to 56-44, and the general market to 45-55, indicating the large caps are underperforming. 80 percent and above of the signals in consensus usually indicates an area from which stocks will reverse. Stochastics for Nasdaq 100 and S&P 100 are in the 30s and approaching 20 signal line associated with short-term troughs. Weekly Stochastics for Nasdaq fired sell signals last week, while weekly Stochastics for S&P 100 and S&P 500 will likely fire sell signals this week. Weak market would move the percentage of stocks above the 21-day moving avg and those making 20-day lows will likely reach extremes of around 20% and 25 or more, respectively, by close tomorrow or intraday Wednesday. In such a scenario, the unconfirmed signals would also reach the 80 percent buy or better at end of day tomorrow. Two down days would also likely push the unconfirmed signals for the S&P 100 close to the 80 percent threshold as well. 3750 would be support for the Nasdaq Composite at the trendline from May trough through August low, and also near the lower standard deviation band at 3740. percent stocks over MA highs/lows highs/lows highs/lows market 10 d 21 d 50 d 200d 10-days 20-days 1-year ---------------------- ---- ---- ---- ---- ---------- ---------- ---------- Sep 11 46 56 55 49 636 - 725 514 - 399 188 - 75 Sep 8 51 59 56 50 638 - 645 504 - 359 165 - 73 Nasdaq 100 percent stocks over MA highs/lows highs/lows highs/lows market 10 d 21 d 50 d 200d 10-days 20-days 1-year ---------------------- ---- ---- ---- ---- ---------- ---------- ---------- Sep 11 13 32 50 48 3 - 46 2 - 15 1 - 0 Sep 8 24 51 58 48 4 - 31 3 - 11 1 - 1 S & P 100 percent stocks over MA highs/lows highs/lows highs/lows market 10 d 21 d 50 d 200d 10-days 20-days 1-year ---------------------- ---- ---- ---- ---- ---------- ---------- ---------- Sep 11 50 53 58 55 25 - 24 23 - 18 10 - 4 Sep 8 50 51 59 56 23 - 25 18 - 18 7 - 3