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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: James F. Hopkins who wrote (16546)	4/15/1998 5:45:00 PM
From: Trader X	Respond to of 94695

Excellent points, all...James. Which is exactly why most people doing ta of indices to find market direction concentrate on the broader SP500 index as a truer indicator. Can't tell squat by the Tdow. Other than where the Tdow is headed. Much better is the A/D line, and it's variations. Superimpose that on the SP500 chart, and one gets a good read on what you pointed at -- money flow. Diverenges tell the whole story...is something going up without confirmation by the A/D or utilities. However, a chart of the SP500 alone can give you top reversals quite reliably if you look at momentum divergences. Bottom reversals are not indicated as reliably this way. Anyway, I ramble. Good hunting. tx