NYSE AD Line Powers Indicator Summary with Another New High

• AD Lines: Bullish. The Nasdaq AD Line broke out in early January and is now stalling near the October high. The NYSE AD Line forged another new 52-week high this week.
• AD Volume Lines: Bullish. The Nasdaq AD Volume Line broke out in early January and exceeded its July high this week. The NYSE AD Volume Line broke out in late December and remains in a strong uptrend.
• Net New Highs: Bullish. Nasdaq Net New Highs have been mostly positive in 2012 and the Cumulative Net New Highs Line moved above its 10-day EMA the second week of January. NYSE Net New Highs have been largely positive since late November and the Cumulative Net New Highs Line is in a strong uptrend.
• Bullish Percent Indices: Bullish. All nine Bullish Percent Indices are above 70% and in bull mode.
• VIX/VXN: Bullish. The CBOE Volatility Index ($VIX) and the Nasdaq 100 Volatility Index ($VXN) bounced this week, but remain in downtrends overall and at relatively low levels.
• Trend-Structure: Bullish. DIA, SPY and QQQ recorded new 52-week highs this month. IWM and MDY have yet to surpass their 2011 highs, but are in clear uptrends and by no means weak.   
• SPY Momentum: Bullish. RSI is in its bull range (40-80), the Aroon Oscillator surged back above +50 and MACD(5,35,5) is in positive territory.
• Offensive Sector Performance: Bullish. The Consumer Discretionary SPDR (XLY) and Technology SPDR (XLK) continue to lead with new 52-week highs this month. The Industrials SPDR (XLI) is closing in on its 2011 highs and the Finance SPDR (XLF) sports the biggest percentage gain year-to-date. 
• Nasdaq Performance: Bullish. The $COMPQ:$NYA ratio broke above its mid December high and techs have been outperforming in 2012.
• Small-cap Performance: Bullish. The $RUT:$OEX ratio broke above is December highs as small-caps came to life in 2012. 
• Breadth Charts (here) and Inter-market charts (here) have been updated.

This table is designed to offer an objective look at current market conditions. It does not aim to pick tops or bottoms. Instead, it seeks to identify noticeable shifts in buying and selling pressure.



Previous turns include:

Positive on 30-December-11
Negative on 16-December-11
Positive on 3-December-11
Negative on 23-November-11
Positive on 28-October-11
Negative on 5-August-11
Neutral on 29-Jul-11
Positive on 30-Jun-11
Negative on 17-Jun-11
Positive on 25-Mar-11
Negative on 18-Mar-11
Positive on 3-Sep-10
Negative on 13-Aug-10
Positive on 6-Aug-10
Negative on 24-Jun-10
Positive on 18-Jun-10
Negative on 11-Jun-10
Positive on 5-March-10
Negative on 5-Feb-10
Positive on 11-Sept-09
There is no change in the indicator summary as stocks maintain their gains and show no signs of significant selling pressure. While this rally is certainly getting overextended, it takes actual selling pressure to produce a pullback. None of the indicator groups shows weakness just yet. The Nasdaq AD Volume Line exceeded its July high this week, while the NYSE AD Line forged another new 52-week high. New highs continue to outpace new lows on both exchanges and the sector Bullish Percent Indices are all above 70%.

AD Lines: Bullish. The Nasdaq AD Line broke out in early January and is now stalling near the October high. The NYSE AD Line forged another new 52-week high this week.
AD Volume Lines: Bullish. The Nasdaq AD Volume Line broke out in early January and exceeded its July high this week. The NYSE AD Volume Line broke out in late December and remains in a strong uptrend.
Net New Highs: Bullish. Nasdaq Net New Highs have been mostly positive in 2012 and the Cumulative Net New Highs Line moved above its 10-day EMA the second week of January. NYSE Net New Highs have been largely positive since late November and the Cumulative Net New Highs Line is in a strong uptrend.
Bullish Percent Indices: Bullish. All nine Bullish Percent Indices are above 70% and in bull mode.
VIX/VXN: Bullish. The CBOE Volatility Index ($VIX) and the Nasdaq 100 Volatility Index ($VXN) bounced this week, but remain in downtrends overall and at relatively low levels.
Trend-Structure: Bullish. DIA, SPY and QQQ recorded new 52-week highs this month. IWM and MDY have yet to surpass their 2011 highs, but are in clear uptrends and by no means weak.   
SPY Momentum: Bullish. RSI is in its bull range (40-80), the Aroon Oscillator surged back above +50 and MACD(5,35,5) is in positive territory.
Offensive Sector Performance: Bullish. The Consumer Discretionary SPDR (XLY) and Technology SPDR (XLK) continue to lead with new 52-week highs this month. The Industrials SPDR (XLI) is closing in on its 2011 highs and the Finance SPDR (XLF) sports the biggest percentage gain year-to-date. 
Nasdaq Performance: Bullish. The $COMPQ:$NYA ratio broke above its mid December high and techs have been outperforming in 2012.
Small-cap Performance: Bullish. The $RUT:$OEX ratio broke above is December highs as small-caps came to life in 2012. 
Breadth Charts (here) and Inter-market charts (here) have been updated.

http://blogs.stockcharts.com/arthurhill/breadth-charts.html
http://blogs.stockcharts.com/arthurhill/intermarket-charts.html

This table is designed to offer an objective look at current market conditions. It does not aim to pick tops or bottoms. Instead, it seeks to identify noticeable shifts in buying and selling pressure. With 10 indicator groups, the medium-term evidence is unlikely to change drastically overnight.

Previous turns include:

Positive on 30-December-11
Negative on 16-December-11
Positive on 3-December-11
Negative on 23-November-11
Positive on 28-October-11
Negative on 5-August-11
Neutral on 29-Jul-11
Positive on 30-Jun-11
Negative on 17-Jun-11
Positive on 25-Mar-11
Negative on 18-Mar-11
Positive on 3-Sep-10
Negative on 13-Aug-10
Positive on 6-Aug-10
Negative on 24-Jun-10
Positive on 18-Jun-10
Negative on 11-Jun-10
Positive on 5-March-10
Negative on 5-Feb-10
Positive on 11-Sept-09