Whenever flashing red or yellow signals are used they shall require obedience by vehicular traffic as follows:
(A) Flashing red stop signal. When a red lens is illuminated by rapid intermittent flashes, drivers of vehicles shall stop before entering the nearest crosswalk at an intersection or at a limit line when marked, and the right to proceed shall be subject to the rules applicable after making a stop at a stop sign.
(B) Flashing yellow caution signal. When a yellow lens is illuminated with rapid intermittent flashes, drivers of vehicles may proceed through the intersection or past the signal only with caution.
('72 Code, § ll-14) Penalty, see § 70.99