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Friday, August 10, 2018 8:08:43 AM
Tepid A/D Line Could End NASDAQ’s Winning Streak
By: Almanac Trader | August 9, 2018
NASDAQ just successfully extended its daily winning streak to eight consecutive days. DJIA, S&P 500 and Russell 2000 have not been as strong over the same period. On the surface NASDAQ’s strength is impressive, but it still has failed to eclipse its recent all-time closing high from July 25. And based upon the above Advance/Decline line chart, it could have some trouble doing so in the immediate future.
Since reaching a peak in mid-July, Advance/Decline lines for NASDAQ and Russell 2000 have been trending lower with the occasional blip higher. This is confirmation that the rally is narrowing and fewer and fewer stocks are actually advancing. The divergence between NASDAQ and Russell 2000 compared to NYSE and S&P 500 is another area of concern as it could be an indication that investors and traders could be rotating to more defensive areas of the market.
http://jeffhirsch.tumblr.com/post/176818035138/tepid-ad-line-could-end-nasdaqs-winning-streak
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By: Almanac Trader | August 9, 2018
NASDAQ just successfully extended its daily winning streak to eight consecutive days. DJIA, S&P 500 and Russell 2000 have not been as strong over the same period. On the surface NASDAQ’s strength is impressive, but it still has failed to eclipse its recent all-time closing high from July 25. And based upon the above Advance/Decline line chart, it could have some trouble doing so in the immediate future.
Since reaching a peak in mid-July, Advance/Decline lines for NASDAQ and Russell 2000 have been trending lower with the occasional blip higher. This is confirmation that the rally is narrowing and fewer and fewer stocks are actually advancing. The divergence between NASDAQ and Russell 2000 compared to NYSE and S&P 500 is another area of concern as it could be an indication that investors and traders could be rotating to more defensive areas of the market.
http://jeffhirsch.tumblr.com/post/176818035138/tepid-ad-line-could-end-nasdaqs-winning-streak
• 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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