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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (486)	8/9/1999 2:51:00 AM
From: J.T.	Respond to of 19219

Les, MORE BAD BREADTH STATISTICS: The last time the market breadth closed below OCT '98 NYSE A/D Index lows was March 23 (DOW 9,671) this year. It took two trading days to cross back above these low levels and we went on to close above 10,000 less than 1 week later on March 29. It continued its existing upward trend. In contrast, on this past Tuesday August 3, we again closed below OCT 98 A/D Index lows but with entirely different market action. The following three trading days negative market breadth continued to swell at better than 2/1 D/A on W/F and 1.8/1 D/A on the up day Thursday. The new lows to new highs swelled to better than 5 to 1. A change in sentiment, no? the bulls better get the course of breadth direction changed soon or else the fears manifest. In March, we got away with the concept: "breadth doesn't count". Interesting to note back in March, the last time the DOW scored a new high while the Advance/Decline Index hit a new low was August, 1928. Your post speaks volumes about the change in sentiment AND REINFORCES WHAT THE TRUTH OF THE MARKET IS TELLING US. Best, J.T.