the cumulative A-D line is the sum of the daily Advance-Decline values
the 5-day ema applied to the daily A-D values is above the zero line as of July 31st for:
S&P 500 - 5 days above S&P 100 - 6 days above Dow Jones Industrial - 6 days above
* this is very bullish while the 5-day ema continues above the zero line ... price pullbacks are likely to be bought only as long as this bullish condition by the 5-day ema for the daily A-D values continues
NYSE cso and all issues 5-day ema's are oscillating above and below the zero line for several weeks
ditto the NDX 5-day ema for the daily A-D values
COMPQ tends to nearly always have a negative A-D bias and has little merit for usefulness, at most times in the year
S&P 500 - above the 19-day ema S&P 100 - above NYSE common-stocks-only - above, was below very briefly NYSE all issues - above, was below briefly Nasdaq 100 - above, was below briefly Dow Jones Industrial - above S&P 400 - above, was below briefly S&P 600 - above, was below briefly
* A-D line BB Bandwidth peaked in early or mid-June 2018 for the S&P 500, the Nasdaq 100 and the two NYSE A-D lines and has since been declining with the S&P 500 A-D line now flattening for multiple days. Since 2016, lower volatility reflected in the currently declining BB Bandwidth usually takes the A-D lines to lower levels within their Bollinger Band before an A-D line Bollinger Band expansion takes place again for a lasting duration
** the various McClellan Summation Indexes are due for a high probability Summation bounce failure and a downside reversal unless :
the McClellan Oscillator for each index actually approaches the McO spike high achieved in the week ended July 13th, and the McO's have shown no inclination to begin such an effort to date
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