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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: davidk555 who wrote (13495)4/5/2001 3:08:33 PM
From: Tim Bagwell  Read Replies (1) of 42834
 
David,

I have also tracked divergences since last year and I notice you conveniently leave out the several days when divergences were positive (a few times across the board) yet the Nasdaq went even lower. In other words, this bit of technical analysis doesn't work every time.

In fact, one might argue that it only has merit on a retest. A retest implies that a short term low has already been put in and usually not the day before. This is how it worked last year.

So, is today's rally a tease, is it the real thing or, as I suspect, is it just the first low that leads to a period of retests. That's when your positive divergence indicator will be useful.
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