Cents and Sensibility - Kimberly and Friends' Consortium Message Board

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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium

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To: JOED3 who wrote (68959)	1/30/2000 6:14:00 PM
From: Walk Softly	Read Replies (1) of 108040

Joe.... in the unusual situation where the ratio of advancing issues to declining issues is > the ratio of + volume to - volume... it can only mean there is a dispropotionate high amount of - volume for the amount of issues that are going down... or that - volume is concentrating in fewer issue.... looking at this as a measure of breadth, it is the converse of alot of + volume being concentrated on fewer advancers.... this is the reverse argument to a narrow advance... i.e. we are seeing a narrowing retreat (a retreat concentrated over fewer issues)... which humourously is bearish for the bears.... this is what TRIN is now telling us.... how extreme this condition becomes depends on the panic level in the marketplace..... the fact that it became extreme so fast portends an iminent reversal.... IMO.... unless of course panic accellerates...... I ask, based on what?.... there just isn't any justifiable uncertaintly in the market right now.... maybe this is scarry???.... I believe this is the last test of the 200 DMA before the Dow breaks out of this last 12 month range for good.... This doesn't mean the Dow can't edge lower, only that the breadth of the retreat is narrowing, losing bredth/momo and sure as shooting must correct to the upside....

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