Stock Market Direction by Steve Zito Statistics April 21, 2000 Page

April 21, 2000. All that the Dow has accomplished this week is to rally back to the 20-day moving average on the Daily Dow chart, see below. If the Dow fails to move above 10,857 quickly and convincingly in the next few days, the decline which began April 12 will resume, taking the Dow to test the 10,194 level, which is long-term support on the Monthly Dow chart. The Dow has now put in a perfect Head and Shoulders top on the Weekly Dow chart going back to Sept. 1999.
05-minute Dow chart
20-period moving average 10,819
05-period moving average 10,829
MACD 10.08/9.51 slightly positive
RSI 66.91 neutral
STOCHASTICS 67.88/69.42% slightly negative
15-minute Dow chart
20-period moving average 10,801
05-period moving average 10,833
MACD 23.89/21.74 slightly positive
RSI 64.49 neutral
STOCHASTICS 81.92/74.89% positive, but peaking
30-minute Dow chart
20-period moving average 10,761
05-period moving average 10,825
MACD 35.68/30.00 slightly positive
RSI 66.67 neutral
STOCHASTICS 90.62/86.69% positive, but peaking
60-minute Dow chart
20-period moving average 10,745
05-period moving average 10,809
MACD 22.35/-0.31 positive
RSI 56.97 neutral
STOCHASTICS 87.93/79.46% slightly positive
Daily Dow chart
20-period moving average 10,857
05-period moving average 10,755
MACD 21.60/82.15 negative
RSI 42.05 neutral
STOCHASTICS 43.63/43.53% neutral
Weekly Dow chart
20-period moving average 10,757
05-period moving average 10,700
MACD -33.06/-30.30 slightly negative
RSI 44.44 neutral
STOCHASTICS 53.35/46.79% slightly positive
Monthly Dow chart
20-period moving average 10,194
05-period moving average 10,877
MACD 749.23/832.50 negative
RSI 65.66 neutral
STOCHASTICS 60.77/68.76% negative

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