A/D Weakening?

01/13/2009 10:56 am EST

Focus: STOCKS

Thomas Aspray

, Professional Trader & Analyst

chart

The decline over the past few days has caused some deterioration in the A/D indicators, but there are no sell signals yet. The McClellan Oscillator has reached resistance going back to the May 2007 highs, and a drop below its MA would be negative. S&P support is at 850, with a key support level at 816. Resistance is at 944 and 1000.

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