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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 679.70+0.7%4:00 PM EST

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To: Psycho-Social who wrote (68966)2/11/2001 6:51:16 PM
From: Doo   of 99985
 
Viewing the IIA in isolation, I agree with your observation 100%. I've watched the IIA since 1995.

However, when coupled with price and volume indicators for intermediate term tops and bottoms (accoring to O'Neill's Chap. 7 of HTMMIS), the IIA extremes have corresponded nicely with those turning points through the 1998 bottom. Since then, and Summer 1999 is a great starting point, there's been such a narrowing of the numbers and consistencey in the bullishness that they've been of no use even in the face of those price and volume signals.

Jeff
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