Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Challo Jeregy who wrote (2473)	12/21/1998 1:59:00 PM
From: Jorj X Mckie	Read Replies (2) \| Respond to of 99985

CJ, Easy, you can have specific buy signals even in a context that the NYSE BP has turned down. It took two months from the time that the NYSE BP reversed last May before we had the start of the July selloff. Right now the DJIA is hitting a double top resistance at 9050 and would need to move to 9100 to give a double top buy signal. Of course this would only apply to the 30 stocks in the DJIA. The DJIA has double bottom support at 8700 and would need to move to 8650 to get a sell signal. The NASD has given several buy signals in the past couple of weeks, with the last being a double top buy on friday when it blew past 2060. The NASDAQ has support at 1970 and would need to go to 1960 to give a sell signal. But the NYSE bullish percent measures the P&F buy and sell signals for all of the stocks on the NYSE and when it reversed down it signified that enough of the stocks were giving sell signals rather than buy signals (or no signal) that things were turning negative. It also indicates that the recent advances have not been broadbased. JXM