Trading the Trends Quotes

“The very first advance is too steep. A healthy advance should never create a trend line that is more than a 45 degree angle. Thus, a sustainable advance should always be less than a 45 degree angle.”
― Fred McAllen, Trading the Trends

“The market internals tell us how many stocks are making new highs and new lows as the major market indexes are advancing. They also tell us the number of stocks advancing versus those that are declining. We are looking for divergences. For example, it is not a good sign to see more stocks hitting new lows than new highs while the major indices are hitting all-time highs. Similarly, it’s not a good sign to see total volume contracting while prices are breaking to new highs.”
― Fred McAllen, Trading the Trends