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

To: donald sew who wrote (7058)	2/26/1999 10:08:00 AM
From: Les H	Read Replies (2) \| Respond to of 99985

I got a strong sell (0-100) on the Dow last night. The new highs/new lows continued to contract/expand respectively, not particularly supportive of a "comeback" rally. Most of the averages approached either the 50-day moving average (SPX, OEX, Dow, Nasdaq, etc.) and/or their recent reaction lows of January which have been tested several times. In the case of the Russell 2000 and the MDY, they're retesting December lows. The percentage of stocks above their respective moving averages: recent low comparative low 2/25 2/17 6/15/98 10-day 39% 21% 15% 21-day 29% 20% 17% 50-day 32% 30% 16% 200-day 39% 38% 45% Yesterday coincided with end of 10- and 20-week cycles.