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

To: HairBall who wrote (3944)	1/14/1999 12:03:00 AM
From: Les H	Read Replies (1) \| Respond to of 99985

AIQ gave 0-100 sell signal today on the Dow/NYSE breadth chart and the Master 3500 stock breadth chart. The 95 EPS/95 RS rank stock index chart had given five straight days of sell signals prior to today's sell-off. And yesterday's AIQ market plot had 89% of stock signals in the 3500 stock database giving sell signals. The moving average envelopes pretty much concur for all the major averages. The indices are correcting back to the 28-day EMA that anchors the trading bands. The Nasdaq corrected 10% over several days to fall back to the top band of its 28-week moving average envelope. Every day since December 31st has had demonstrably more stock firing off Wilder RSI and Stochastics sell signals in the 3500 stock database. 35% of the stocks gave 14-day Wilder RSI sell signals (cross below 70). The last several days since the January 6 peak, the percentage of stocks giving 12-25-9 MACD sell signals (31.6%) has exceeded those giving buy signals (10.5%). The MACD crossovers tend to occur after the oscillators trigger signals and act to confirm a change in trend.