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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: donald sew who wrote (30698)	10/20/1999 8:41:00 AM
From: OX	Read Replies (2) \| Respond to of 99985

donald, what minimum range of advance in the new highs would you say is necessary to signal that NH are improving rather than just "threading water". I understand that since we are at mkt lows here, that NH won't (or shouldn't) improve as much as if we were to be at mkt highs. thanks. Message 11562783

To: donald sew who wrote (30698)	10/20/1999 11:39:00 PM
From: Vitas	Read Replies (1) \| Respond to of 99985

Hi Donald, the a-d line Friday fell through what could have been support at the 1996 bottom on 7/24/96 . We are today approximately 887 net a-d below that level. That level will probably prove to be the same type of resistance as the February 1994 a-d line peak was earlier this month. Once we fell below that level the SPX rallied 54 points on a grand total of 883 net a-d for the entire move, quite an air ball. We haven't quite retraced a fib .618 on a ratio a-d line basis of the rise from the December 1994 bottom to the April 98 top, though it is getting close. Since new lows reached a new high on this latest decline a few days ago, usually (not always) this means that the low was not a retest of of the September low but that it is a low which will be at least retested or taken out later. Vitas