Here is a couple of charts that is clearly showing some breadth divergence with respect to the broader market (NYSE). While this does make the rally since Aug seem suspect, one possibility could be that there is money on the side lines waiting to come into the markets. Now that we have had a break out (said with tough in cheek), perhaps now this money will now come in. Don't really have any evidence to back this up; just a thought.
Notice the definite move up on both price and volume A-D lines from Fridays breakout. Also notice the rising wedge that both lines have formed, and both have broken out to the upside.
Or maybe it is just me being bullish!! LOL!
Have a great weekend!
Here is the same view, for the NASDAQ. While the price based A-D line is lagging, the volume A-D seems to be confirming.
I zoomed out to a 2 year view of the NASDAQ chart, and you get a different perspective. It seems that when the NASDAQ A-D line is flat to up, it is bullish. In fact, when the A-D line is trending up, it seem really bullish. And it looks like the A-D line has broken up.
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