NYSE AD Line Breaks June High
The AD Line for the NYSE remains strong after a break above the June high. In fact, the AD Line is leading the NY Composite because the latter has yet to break its June high. Leadership from the AD Line is positive for the market overall. You see breadth stats for the NYSE, Nasdaq and Amex with the CandleGlance charts.
Take a look at this indicator on a multi year time frame and you will see that the NYSE cumulative A/D line is up against a critical multi year fan line; that implies a precipitous drop lower in the intermediate time frame ahead.
Posted by: AndreVachon | July 23, 2009 at 12:34 AM