Especially the last 3 months's bearish A/D divergence from prices was a warning
that a top was in the making. Starting in August the Fed began raising the Discount
Rate from the 4.5% it had been at since 11/17/98.
8/24/1999 4.75%
11/16/1999 5.0%
1999 A/D
Line Decline's Weakness Like This Is Bearish.
Especially
the last 3 months's bearish A/D divergence from prices was a warning
that a top was in the making. Starting in
August the Fed began raising the Discount
Rate from the 4.5% it had been at since 11/17/98.
8/24/1999 4.75%
11/16/1999
5.0%