Just
the repeat once again on market breadth “The Advance / Decline Line (AD line)
is one of the most widely used indicators to measure the breadth of a stock
market advance or decline. The AD line tracks the net difference between
advancing and declining issues. It is usually compared to a market average
where divergence from that average would be an early indication of a possible
trend reversal.”
They
say a picture is worth a thousand words.
Our
latest NYSE advance / decline line displays a break down below the pivot – the early
August lows. The problem now is the S&P500 has just confirmed the A/D line break
by also breaking below the early August lows
Now
the pain is close to the end as the Russell 2000 (the first the break down)
currently at about 1049 - is only 50 points above major support as viewed by a
point & figure.
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