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

To: Sun Tzu who wrote (7499)	3/4/1999 2:10:00 PM
From: Les H	Respond to of 99985

My take is either the rally would fizzle as more stocks start to sell off from positive to negative, or the number of advancing issues would need to improve dramatically. This would narrow the discrepancy in the ratios of advancing versus declining. This would affect broader indexes like NYSE, Nasdaq, S&P 500, more than the Dow and NDX. I use the TRIN-10 setting on AIQ. The figure is 1.00 for the NYSE and .97 for the Nasdaq. It is neutral. It was over 1.25 in the early February 17 low in the Nasdaq from where it rallied 140 points. That low in the Nasdaq was also confirmed by a double top in the Nasdaq TRIN-5 (above 1.20). Currently, both the TRIN-5 and TRIN-10 are neutral. TRIN-5 for the NYSE has oscillated from 75 to 125 in a range coincident with the DJIA highs and lows in the trading range, respectively.