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

To: Giordano Bruno who wrote (10903)	4/14/1999 6:34:00 AM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

Jim, my idea of viewing an improvement of the a/d-line as possibly bearish has mainly to do with sentiment. many wall street strategists and technical analysts have been bearish recently or at least calling for a correction based on the market's weak internals. the doubt and disbelief encouraged by the weak a/d-line and new highs/new lows have provided the market with the famed 'wall of worry',which it promptly proceeded to climb. my 'ideal' scenario if you will, would be for an improving a/d-line to start drawing in money from the doubters,thus prolonging the life of the rally for a bit. but as the improvement in the internals receives more and more attention, conviction will inevitably rise to the point of complacency and thus bring the rally to an end. the first signs of this rise in conviction are already apparent, as some bears are starting to shift their stance. take a look at my very first post on this thread (reply#9710) ,where i have outlined some of the things i am looking for with regards to identifying a possible top. regards, hb