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GB has put into words what I have been seeing in my breadth models and
feeling as I look at the bigger picture of equities, bonds and
currencies. There has been nothing in the equity index price action
which warrants extreme bearishness at the moment, however I believe
extreme caution is warranted. And yes, my NYSE models have been showing
major divergences between the price action and a/d issues, a/d volume,
and hi/lo ... all models use this data in oscillator form rather than
absolute values as you would see for example in a cumulative a/d line.
In the NASDAQ, the price action itself failed when the spring reversal
failed to take out the previous high, then headed south and broke the
pivot low to the left of the lowest low. As you know, I have been
commenting on this privately for over a week now.
Earl
----- Original Message -----
From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, September 26, 2000 11:06 AM
Subject: [RT] Re: MKT: Big Picture Patterns
> GB, you are fast with the statistics, how about doing this little
exercise
> and report back:
> Starting on 9/18 make a daily list for the NYA of new highs and new
lows,
> advancing issues, declining issues, up volume, down volume. Then
compare it
> with what you see today. Do you see any glaring divergences from the
DOW,
> the SPX, the NYA? Do you see a stealth bull getting ready to snort?
>
> BR
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