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Strategies & Market Trends : Technical Analysis - Beginners

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To: Tom Gibbs who wrote (7795)	1/16/1998 9:27:00 AM
From: Loren	Read Replies (3) of 12039

Tom... I believe a classic bullish divergence is when the successive local lows of price went down while the successive local lows of the indicator (in this case, the MACD histogram) went up. I'm getting this from "Trading for a Living", by Dr. Elder. What you are referring to with EVI is just an upwards movement in the MACD histogram while price continues (at least temporarily) downward. This happens very often when a stock is turning around, while bullish divergences are more rare. Note that for EVI, the lows of the histogram in late November and mid-December diverged against price lows, but I don't think they are diverging now... they are agreeing. Thoughts? Loren

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