Home > Boards > Free Zone > All Trading - Technical > Market Direction and Stock Trends

Advance/Decline Lines Support New Highs

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
DiscoverGold Member Profile
Member Level 
Followed By 568
Posts 75,015
Boards Moderated 43
Alias Born 03/10/04
160x600 placeholder
PayPal Boosts Outlook for Total Payment Volume, GAAP EPS
By Allison Prang PayPal Holdings Inc. raised its total payment volume and GAAP earnings guidance for the fiscal year.
Top Stories of the Day
Yum China: Latest Outbreak Weighs on 2Q Results, Company Plan More Locations
PayPal's Profit Falls in 2Q
McDonald's Says Foreign Exchange Increased Earnings -- Currency Comment
Equinix 2Q Profit Fell to $68.3 Million on Debt Extinguishment Charge
Qualcomm's 3Q Profit More Than Doubles, Results Beat Wall Street Targets
Europcar Mobility Group Announces Agreement With Consortium Led by Volkswagen
Correction to Tuesday's Europcar Confirms Advanced Takeover Talks Story
Wheat Leads Grains Rally Amid Supply Concerns -- Daily Grain Highlights
Top Company News of the Day
Front Month Nymex Natural Gas Rose 1.84% to Settle at $4.0440 -- Data Talk
Front Month Nymex RBOB Gasoline Fell 0.25% to Settle at $2.3082 -- Data Talk
Advanced Micro Devices Up Over 7%, on Pace for Record High Close -- Data Talk
SoCalGas, Sierra Northern Railway Working on Hydrogen Fuel Cell Locomotive
Hill-Rom Shares Rally On Reports of Baxter Deal Talks -- Update
BrightFarms Expands Recalls With Two Spinach Products
Safran 1st Half Revenue, Earnings Fell; Backs 2021 Sales, Margin Views
Southern Co. Makes Founding Investment in Elevate Future Fund
North American Rail Traffic Rose 4.6% in Week Ended July 24
Vivendi 1st Half Earnings, Revenue Rose
CAC 40 Index Ends 1.18% Higher at 6609.31 -- Data Talk
FTSE 100 Index Ends 0.29% Higher at 7016.63 -- Data Talk
DiscoverGold Member Level  Friday, 06/11/21 11:03:27 AM
Re: None
Post # of 38768 
Advance/Decline Lines Support New Highs
By: Almanac Trader | June 11, 2021

One of our favorite charts to get a quick read on the overall health of the market is a simple comparison of DJIA, S&P 500, NASDAQ and Russell 2000 performance to cumulative advance/decline lines. From late October’s low through mid-February all four indexes moved nicely higher essentially in unison. Advance/decline lines were also all trending higher. It was in mid-February that NASDAQ turned briskly lower. Its advance/decline line also turned lower.

When NASDAQ turned and its advance/decline began trending lower, DJIA, S&P 500 and Russell 2000 essentially went nowhere and traded in a range. Bullishly, it appears NASDAQ’s advance/decline line appears to have bottomed in mid-May and is on the verge of eclipsing its peak from February. Broad participation across all the major indexes is a bullish sign and is generally indicative of a healthy move higher is underway. S&P 500 closed at a new all-time high today. DJIA, NASDAQ and Russell 2000 are closing in on their respective all-time highs.

In the near-term, new all-times are likely. However, June is the last month of NASDAQ’s “Best Eight Months” and historically soon after the start of the second half of the year, around mid-July, markets have stalled out and tended to slip into a sideways to lower trend. Inflation trends and the Fed are two possible catalysts that could clip the market’s wings this year. Inflation could prove to be more than just transitory and at some point, perhaps sooner than expected, the Fed will likely begin tapering asset purchases.

Read Full Story »»»


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. Caveat emptor!
• DiscoverGold
Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
Current Price
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist
Consent Preferences