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Reflecting back on Friday's post about the race between advances and
declines to the 1200 to 1500 zone, we see that Monday's race was won by the
Advances. Even though price went sideways to down early on, issue and
volume breadth were hinting that the resolution should be to the upside, and
so it was. The spread relationships remained directionally the same the
remainder of the day. I have a suspicion that those traders who say they
don't use indicators, and only use price action are really using them but in
a subconscious way, just not planted on a chart.
BobR
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