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

To: HairBall who wrote (39758)	2/11/2000 12:12:00 PM
From: bearshark	Respond to of 99985

LG: The advance/decline lines went in favor of declines quite a while back. That should fairly mirror the VGY I think. That is a leading indicator as it was in 1972. However, since then we have had huge gains in the major and minor indexes. Volume can overwhelm issues. I read several notes on SI where individuals noted that there was a difference in the month of 1999 in regard to the TRIN. I was one and noted that it indicated money being forced into fewer and fewer stocks. This is the natural progression in a bull market. In the New Year, the market hardly broadened at all. The classic broadening top patterns on the INDU and OEX began to scream at about mid-January. They are now playing out. The secondary market (Nasdaq), the final venue of the nouveau traders, will be the last to go. I think it will end in a spectacular climax while the INDU, TRAN, NYSE, OEX, slowly and quietly decline. Maybe it will, maybe it won't. I am betting it will.