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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 672.07-1.7%Nov 13 4:00 PM EST

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To: Smooth Drive who wrote (31492)10/26/1999 5:00:00 PM
From: pater tenebrarum  Read Replies (2) of 99985
 
Eric, i just looked at the time when NH/NL peaked, which was in '97. presumably your bullish % chart was very overbought at the time...nevertheless, the market went on to even more impressive gains from there. the oversold conditions you have cited have all occurred in the context of big bull market corrections. would the interpretation of the NH/NL bullish % chart change in a bear market environment? i'm not saying that we are in one, just interested if it would change the interpretation.

regards,

hb

EDIT: here's a look at the 73/74 bear:

decisionpoint.com
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