excellent observation, truth b told. Here is an example, a stock which I and others know for sure has diluted over the last few weeks. Granted the volume hasn't increased because hype wore off but look at the A/D line. Nosedive. While the OBV remained flat. Company has diluted extensively recently and it shows on the chart, after the fact. Now compare that with the GBDX beneath it, which is in tandem sync, both indicators, revealing no dilution.