Another
update on the NYSE AD Line
When
you look at the current chart of the S&P500 plotted above the NYSE Advance
/ Decline Line (AD line) one can see two technical problems.
The
first problem is the negative divergence setup between the two lines – the higher
high on the S&P500 and the lower high of the A/D line. The second problem
is the swing failure of the A/D line and the move below the 20 period
smoothing.
A
correction is underway – but the duration and magnitude is not predictable at
this time.
Posts
1 comment:
thanks for pointing this out
The S&P could be forming a small head and shoulders top with the peak of the left shoulder at July 24, which is also where the NYSE A/D line peaked and began to diverge downwards
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