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To: BZOOKA who wrote (5981)11/21/1997 2:06:00 AM
From: Jon Tara  Read Replies (1) | Respond to of 13925
 
The stochastic is NOT overbought. In fact, it is rapidly approaching oversold.

That is why I do not give a lot of weight to the MACD here. I have seen quite often in this market where the MACD will simply "kiss" the signal line, or even dip and then come right back.

Keep in mind, also, that the MACD is a lagging indicator. Today's crossover is reflecting Monday's drop.