Market Internals Improve
08/30/2010 9:35 am EST
It was another choppy week for stocks, but the very strong A/D numbers on Friday did cause the A/D indicators to turn higher. The S&P 500 has held the support at 1040 with resistance now at 1080-1100. It is positive that after August’s new highs, the A/D line has now moved back above its WMA. The McClellan Oscillator has also turned higher and could move above the zero line early this week. It will take several days of positive A/D numbers to suggest a breakout of the summer’s trading range.
Tom Aspray, professional trader and analyst, serves as video content editor for MoneyShow.com. The views expressed here are his own.