Breadth Weak

08/27/2008 12:00 am EST

Focus: MARKETS

Thomas Aspray Image

Thomas Aspray

, Professional Trader & Analyst

The NYSE A/D line is still weak as it is below its 34 EMA and has formed lower lows. The daily chart of the NYSE Composite also suggests that the action over past six weeks is a continuation pattern that should be resolved to the downside. Much stronger A/D numbers are needed to indicate a bottom.

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