9/12/19 The odds favor a near term breakout into record
high territory for both the S&P 500 and Dow.
As far as we are concerned, the big story has been
the breakout of the Advance/Decline (A/D) Line
into record high territory. This places the odds
heavily in favor of the S&P 500 and Dow
following suit. On top of this, the Russell 2000,
which had been lagging, has surged 7% over the
last seven trading sessions, as well as moving back
above its 50 and 200 day moving averages.