Chart of the Day: S&P 500 Cumulative Advance/Decline Line

The downtrend in the S&P 500 Cumulative A/D line has
been broken. This is the first sign of improving internals since the market
topped out (short term) in late December 2004.

S&P 500 Cumulative Advance/Decline Line


Before major tops, a divergence between price and the a/d
line develops; That hasn’t occurred here. To quote Technimental’s Kevin Lane,
“you must respect the trend.”

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