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Alliancebernstein Income Fund Message Board

  • phage1998_992002 phage1998_992002 Dec 20, 2010 9:48 PM Flag

    The technical market:

    Interesting piece:

    This jibes both with the previously referenced article and the trend of
    some of our own technical indicators--e.g. the 30 day SMA of NYSE
    adv/decline, 10 day SMA of TRIN, etc.

    Again, hard to know what to make of such correlative data in the light
    of the predominant causative factor--governmental intervention in the
    markets. (Which is not to say that the fix can necessarily be relied upon
    either. Not enough history: it either continues to work, or it doesn't.)

    Crap shoot, imo.

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    • Richard Ney always used to describe that combo of TICK topping before the broad average to be a sure sign of distribution from specialists.

      • 1 Reply to captainlate2001
      • Yeah, that was the general logic of a few internals or combined indicators. For instance, though I can't link to anything at Stockcharts preceded by the "index"
        sign ($), the Mamis a/d indicator we use, a crossover system of the
        the 30 and 10 day SMAs, shows another characteristic topping phenomenon: for a few months the
        30 day average has been trending downwards, while the 10 day crosses over and under. The reference indicies continue higher
        while this goes on.

        Again, I really don't know what to say about the situation except that the causative factor of sovereign support for risk capital continues to count for more than formerly-reliable correlative data or, even,
        the ongoing retail disintermediation from the equity medium.

        Be that as it may, I'm much more concerned about the apparent failure
        to reign in the financial system here in the U.S.A. The oceans of commentary ink nothwithstanding, I don't understand it at all--a crucial opportunity seemingly passed over. Makes me very bearish
        in the long term or whatever portion of it we live to see.

        Not sure I understand what's in
        it for much of anybody. But I expect
        everyone will find out in due course.

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