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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

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To: Suresh who wrote (9932)	12/10/1998 10:51:00 AM
From: Doo	Read Replies (1) of 44573

Suresha: With some minor modifications, William O'Neill's price and volume signals on the indices, along with sentiment indicators, are what I follow for determining intermediate term market direction. Currently, we've had four distribution days (inside of three weeks) in the face of bullish sentiment numbers which are at 5 year extremes. During the window for the distribution we are seeing, volume on down days has significantly outstripped the volume on up days. A/D has deteriorated during this same window and has not suggested strength on any upward movements. All in all, the "IBD market direction" would seem to be at a critical point here, the bias is for a significant turn to the down side.

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