NYSE A/D Line Breaks Trend Line

01/29/2010 9:58 am EST

Focus: STRATEGIES

Thomas Aspray

, Professional Trader & Analyst

chart
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The NYSE A/D line has closed below its uptrend that goes back to the September lows, but there is further support at the November/December highs. It is positive that the A/D line had confirmed each market high, keeping the intermediate trend positive. Everyone is watching the 1080-85 area in the S&P 500, which corresponds to the November/December lows, but there is also strong support in the 1050-65 area with the 200-day MA at 1011. The strength of the next rally will tell us more about the intermediate-term trend.

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