Breadth A/D from extreme low to extreme high; whether we are going to reversal of the today's market performance at the 50dma resistance is yet to be seen; however, with a good consolidation on vst 5m as it is OB, since 60m is just signaling a buy, we could see trading above 50dma R, 48.12 +/-, and trending up. Market on "Wave 3" is a strong move.
Trin is low and it is a good signal during early up thrust market.
Therefore, the low TRIN and High A/D is likely signaling a continuation, rather than a reversal.
As noted, A/D 10ma has broken above the resistance; by which it is confirming that market is coming off extremely oversold breadth and is boding well for IT as IT breadth is showing positive divergence.
Will see & reassess
http://stockcharts.com/c-sc/sc?s=$NAUPV:$NADNV&p=D&yr=0&mn=5&dy=0&i=p19204974719&a=98170215&r=166.png
http://www.stockcharts.com/c-sc/sc?s=$TRINQ&p=D&yr=0&mn=3&dy=0&i=p22629541424&a=92929121&r=900.png
http://www.stockcharts.com/c-sc/sc?s=$TRIN&p=D&yr=0&mn=3&dy=0&i=p54309303716&a=80055763&r=229.png
1-2-3-4-5, it looks like we are on the way to "Wave 3" on daily price action.
We just completed "Wave 2" with 38% retracement of "Wave 1".
http://stockcharts.c...92375&r=375.png
http://stockcharts.c...92643&r=914.png
TRIN & A/D
Started by
Trend-Signals
, Aug 29 2007 05:57 PM
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