when SPY has spent lengthy periods below its 200-day ema has coincided with when the NYSE common stock only symbol set's Advance-Decline line's 19 and 39-day ema's have a negative cross to each other:
chart #1 - 10-year daily history
chart #2 - NYSE common stock only Advance-Decline line, A-D ratio, and McClellan indicators
* the McClellan Summation index is now hovering just above its zero line, so high vigilance is required whether a bull or a bear
bulls do not want to see a lasting decline below the McSum zero line
chart #3 - Swenlin Trading Oscillator for the NYSE common stocks only symbol set
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