Mike,

thanks a lot for your informative reply! That's an exhaustive definition of FTD. It's interesting to think that if the market continues creeping up without having a valid FTD, most of the strict CANSLIM followers would stay in cash. I presume their take is that the foundation of the rally is shaky and that it's going to fail at some point.

Btw: has this method of detecting rallies ever failed to notice the start of an up leg in the markets?
Thanks,

Max