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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 671.910.0%Nov 14 4:00 PM EST
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To: bobby beara who wrote (17454)6/15/1999 8:30:00 PM
From: pater tenebrarum  Read Replies (1) of 99985
 
Bobby, i just checked on several stock-specific threads and had a closer look at today's options data; to my relief i came away with the impression that complacency still reigns. i have also looked at the bond/stock relative strength measures and noticed that in recent years reversals in the same to the benefit of the long bond have most of the time occurred at just about current levels and resolved not only in good bond rallies but also stock market corrections of varying sizes (last fall being the most memorable one). re: a/d line divergence: the most recent divergence of a higher low in the NYA and a lower low in the a/d line is not bearish. the extreme divergence of the a/d line and prices over a longer time frame is, as the two are not properly trending together. the links i put in my earlier post speak for themselves; some of the divergences currently apparent must count among the worst ever. i am scanning historical charts for comparisons and the COMPX/a/d trend divergence has no peer as far as i can tell. a look at the strongest members of the SOX confirms they are very overbought. re: INTC non-confirmation, is there a precedent for this?

regards,

hb
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