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

Tuesday, February 01, 2005 | 11:37 AM

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

Spx_cum_ad_2005_short_1

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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Quote of the Day:
  
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Tuesday, February 01, 2005 | 11:37 AM | Permalink | Comments (0) | TrackBack (0)
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