[pcabc]

... In the past, all major bear markets were preceded by evident divergences between the ADline and the main DJIA indice. To say it otherwise, the ADline and other Weinstein indicators tell us if the market is or is not ready to go massively down, and the stage analysis only tell us when the bear market will start in a such context.
...

I wonder if it matters if you use the S&P500 versus the DJIA?  I generally look at the former.  The book uses the DJIA, but the S&P500 was established for decades before the book.  The former, I understand, is a small curated pool of stocks whereas the latter is more algorythmic based on market cap.  I wonder if that distinction is deliberate?