7/11/19 THE CHARTIST the Advance/Decline (A/D) Line is in a powerful uptrendconfirming the recent push by the benchmark S&P 500 into record high territory. As you know, theA/D Line has a history of topping out ahead of the major averages during the final stages of bull markets.In the current instance, it hit record highs on June 13th while the S&P 500 followed suit on June 20th.A/D volume also broke out at the same time. If history is any guide, this is quite bullish for the stockmarket’s prospects. It is interesting to note that at the peak of the last bull market on October 8, 2007the A/D Line had already recorded its highs of the cycle on June 1st of that year and was in a pronounced down trend.
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