NYSE A/D Line Breaks Trend Line
01/29/2010 9:58 am EST
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.