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Confirming should be triple underlined! A confirming indicator confirms a
price move. Too many people believe that lack of confirmation guarantees a
move in opposite direction and this is dead wrong. Non-confirmed price moves
can persist for long periods of time and, in many cases, the confirmation
will kick at a later time when the price move is even more advanced. The
lack of confirmation comes into play only when the price action begins to
deteriorate in the same direction as the the unconfirmed indicator.
Earl
-----Original Message-----
From: R.E.Turner <rturner@xxxxxxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Sunday, February 07, 1999 5:07 PM
Subject: Re: TC2000 Adv/Dec Line
>The A/D line is a confirming indicator; should it trend down while the
>averaqes are trending up it is bearish or if it trends up while the
averages
>are trending up it is bullish. Similarly the P & F for the 4, 13, 26 and
52
>week new high/new lows lists are tanking. Not to say we couldn't rally
from
>a new base; which is most agreeable.
>-----Original Message-----
>From: GREHERT@xxxxxxx <GREHERT@xxxxxxx>
>To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
>Date: Sunday, February 07, 1999 1:42 PM
>Subject: Re: TC2000 Adv/Dec Line
>
>
>>Good pick-up R.E.Turner. I too follow Worden's advance-decline line and I
>>noticed it was approaching a previous bottom but I wasn't aware the other
>>bottom was Oct. 8th. I've reviewed the chart and the current picture
looks
>>very similar to the double bottom of 1-12-98 and 6-4-98. What happened
>after
>>that retest......the market raced up about 10% while the ADL went
nowhere -
>>then we had the bear market of 1998. I think something like this could
>happen
>>again (if we stop talking about it).
>>
>>Best Regards,
>>
>>Jerry Rehert (grehert@xxxxxxx)
>>Atlanta, GA
>>@ 02:21 pm, February 7th, 1999
>>
>
>
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