Go to Jeff Salisbury LWGate Home Page.From: derek b <derek7422@geocities.com>
Subject: [CANSLIM] Market breadth update
Date: Sun, 06 Apr 1997 15:00:28 -0400
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Market breadth update: I see some comments regarding buying on Monday. I have posted updates to the STIX Advance / Decline market breadth indicator. See: http://www.geocities.com/WallStreet/7422/STIXNDQ.gif http://www.geocities.com/WallStreet/7422/stixny1.gif My conclusion: Too early to buy just yet. The NYSE is closer to a market buy signal (Red STIX indicator passing up through blue line). Nasdaq still appears to be in a correction. Any short turn rally could be rapidly reversed. Alternatively, seasonally the April 15 tax date has in recent history coincided with retail investors funding last-minute IRA's, and thus providing the massive liquidity that has powered this bull in the 90's. Thus, a short term rally is possible. Watch for power in the rally, though, because, we may be headed down further if follow-through is weak. I'm out of the market currently, but have begun to fire up the long scans again. This one has a nice C&H and breakout Friday, but not a strong CANSLIM stock: HMX Derek
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