Non-confirmation

A market is said to be “In gear” when most averages and indicators that form a part of it confirm successive highs or lows.  For example, when the Dow Jones Industrial Average (DJIA) makes new highs, but the advance/decline (A/D) line does not, a non-confirmation is said to occur.  If other indicators or averages also fail to confirm, conditions are regarded as bearish until the non-confirmations are cleared up, and vice versa.