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

To: fedhead who wrote (31747)	10/28/1999 7:59:00 PM
From: pater tenebrarum	Respond to of 99985

Anindo, i basically agree with that...the market has withstood quite a bit of bad news. however, the a/d line still looks anemic in the context of the latest rally, in spite of the reasonable a/d performance today. and as Don has pointed out, it seems that certain sectors always run at the expense of others, and so far the rotation has brought us lower net/net. remember the jobs data rally of early September? it was equally impressive, if not more impressive than today's advance and it's been downhill ever since. that is not to say that we didn't have a good rally from the recent lows, and today some down trend lines were broken to the upside, all positives. but i wouldn't necessarily chase it...i didn't see the type of capitulation bottom i'd like to see before jumping in with all i've got. consider that lots of bears threw in the towel today, including me...<ggg> regards, hb