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Pastimes : The Naked Truth - Big Kahuna a Myth

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To: MythMan who wrote (57890)8/23/1999 2:30:00 PM
From: pater tenebrarum  Read Replies (2) of 86076
 
MM, that is what i find so baffling about this market...that one after the other, tried and trusted indicators are failing. we have a massive divergence between industrials and transports, we have an ongoing a/d line divergence, we have the MER non-confirmation, we have the Fed firmly embarked on a rate hike cycle and yet stocks are going relentlessly higher. possibly negative divergences should be interpreted as positive divergences, as contrary indicators. the theory being that the negative divergences are keeping many technically oriented people out of the market which provides fuel for further advances as the rally keeps going.
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