NEW YORK (MarketWatch) — “Morgan Stanley has issued a “full house sell signal” as of Monday, saying three of its leading indicators – bond yields, Institute for Supply Management new orders, as well as valuation and risk – showed it was time to sell. “Such a full house sell signal across these three indicators is rare, and has occurred only five times since 1980,” said analyst Teun Draaisma in a European strategy research report. “Equities have always been down in the next 6 months, on average by 15%. Previous occasions include September 1987 and April 2002. We prefer to be on the right side of those odds.” Draaisma also said that cautious sentiment can negate a valuation sell signal.”