Big Closing Power Divergences in DIA and SPY
                          CP%-PR%<-.70
  DIA
      August 1999 - 2% rally and then 12% decline.
      November 1999 - 5% rally and then 17% decline in January.
      January 2000 - 15% decline.
      December 2012 - No decline.  Strong rally followed.

  SPY
     Sept 1997  - 10% sell off in two weeks
     May 1998 - shallow decline, 8% rally and then 13% decline.
     Oct-Dec 1999 - 5% rally and then 10% declinein the next year
     August 2003 - No decline.  65-dma held.  Rally followed.
     August 2006 - No decline. Strong rally followed.
     December 2012 - No decline.  Strong rally followed.
     July 2013  - 4% sell off and then strong rally.

Conclusion:
        Don't use in Nov-Decmber (Santa Claus Rally) and August (Summer Rally).
        Best to use when bull market has lasted a long time.  (Not in 2003)
DIA99.BMP (1920054 bytes)
DIA9900.BMP (1920054 bytes)
DIA1112.BMP (1920054 bytes)
 
 
SPY97.BMP (1920054 bytes)
SPY98.BMP (1920054 bytes)
SPY99.BMP (1920054 bytes)
SPY9900.BMP (1920054 bytes)
SPY03.BMP (1920054 bytes)
SPY06.BMP (1920054 bytes)
SPY1112.BMP (1920054 bytes)
 SPY13.BMP (1920054 bytes)