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Saturday, June 09, 2018 12:08:18 PM
Robust Advance/Decline Lines Underpinning Rally
By: Almanac Trader | June 6, 2018
Once again today, NASDAQ and Russell 2000 closed at new all-time highs. DJIA and S&P 500 actually performed even better, making up ground and closing in on previous all-time highs reached way back in January. Financials were leading today with SPDR Financials (XLF) up 1.86%. Even the energy sector was positive today, SPDR Energy (XLE) climbed 0.48% even as crude oil slipped.
This broad participation across numerous sectors is positive and can be seen in the above chart of NYSE, NASDAQ, Russell 2000 and S&P 500 cumulative daily advance/decline line chart. All four Advance/Decline lines have exceeded their previous highs. NASDAQ’s and Russell 2000’s A/D lines are the strongest while NYSE and S&P 500 are improving. As long as A/D lines remain in clear trends higher the current rally will likely continue.
http://jeffhirsch.tumblr.com/post/174641746898/robust-advancedecline-lines-underpinning-rally
• DiscoverGold
Click on "In reply to", for Authors past commentaries
By: Almanac Trader | June 6, 2018
Once again today, NASDAQ and Russell 2000 closed at new all-time highs. DJIA and S&P 500 actually performed even better, making up ground and closing in on previous all-time highs reached way back in January. Financials were leading today with SPDR Financials (XLF) up 1.86%. Even the energy sector was positive today, SPDR Energy (XLE) climbed 0.48% even as crude oil slipped.
This broad participation across numerous sectors is positive and can be seen in the above chart of NYSE, NASDAQ, Russell 2000 and S&P 500 cumulative daily advance/decline line chart. All four Advance/Decline lines have exceeded their previous highs. NASDAQ’s and Russell 2000’s A/D lines are the strongest while NYSE and S&P 500 are improving. As long as A/D lines remain in clear trends higher the current rally will likely continue.
http://jeffhirsch.tumblr.com/post/174641746898/robust-advancedecline-lines-underpinning-rally
• DiscoverGold
Click on "In reply to", for Authors past commentaries
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
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