Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Jay8088 who wrote (33068)	11/5/1998 10:06:00 AM
From: bobby beara	Read Replies (1) \| Respond to of 94695

Jay, too many big volume days with 2/1 - 3/1, even on down days in the Dow. October 8th was a failed head & shoulders pattern on the Dow, which means we could go the other way with the same measured move. New lows are drying up from red blood territory. It will take many months to work off the level of bearishness on October 8th. I am short right now, but I don't believe we will be seeing any big pullback here. bb

To: Jay8088 who wrote (33068)	11/5/1998 2:59:00 PM
From: Terry Whitman	Read Replies (1) \| Respond to of 94695

<<I am not sure that internals are all that strong. The SPX etc. indexes have retraced 60-70% or more of decline. But A:D line has barely retraced 30% of decline from the top. decisionpoint.com In terms of A:D we are at DJIA 7000 level (on the way up, before 7/20 top).>> At that same address, they explain how to pick top and bottom A/D divergences. The following links show bullish bottom divergence- where the A/D makes a lower low, yet the price makes a higher one: decisionpoint.com and decisionpoint.com That is not the case with the current chart. The current chart sets new lows for both A/D and price in early October. I'm no A/D expert, but I believe that is a confirmation of a bearish trend. BWTHDIK (I know I've missed out on most of the bull run from the last low!!) TW