Market Internals Impressive

07/08/2010 9:49 am EST


Thomas Aspray

, Professional Trader & Analyst

Click to Enlarge

Stocks were impressive on Wednesday with the advances exceeding declines by a five-to-one margin. The major averages have cleared first resistance as the S&P 500 has rallied sharply from the 38.2% support level. The next widely watched resistance level is in the 1080-1100 area. The A/D line held key support from early this year and a completion of the triangle formation (dashed lines) would be quite positive. The McClellan Oscillator has formed a longer and stronger bullish divergence.

Tom Aspray, professional trader and analyst, serves as video content editor for The views expressed here are his own.

  By clicking submit, you agree to our privacy policy & terms of service.

Related Articles on STRATEGIES

Keyword Image
MSG Networks: A Sporting Chance
12/12/2018 5:00 am EST

Validea is an advisory service which assesses stocks based on the investing criteria of many of the ...