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The AD Volume Lines

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Breadth stats reflect continued preference to be overweight small and mid-caps, while underweight techs and large-caps. As the AD Volume Lines show, the S&P Midcap Index and S&P SmallCap Index remain the strongest. Both indicators for MID and SML remain above their 89-day EMAs, although the AD Volume Line for MID is currently testing the 89-day EMA (black arrow). The AD Volume Line for the Nasdaq 100 declined below its 89-day EMA in early March and remains weak (red arrow). The AD Volume Line for SPX is finding some support near the 89-day EMA and has yet to make a clean break (blue arrow).

Chip Anderson
About the author: is the founder and president of StockCharts.com. He founded the company after working as a Windows developer and corporate consultant at Microsoft from 1987 to 1997. Since 1999, Chip has guided the growth and development of StockCharts.com into a trusted financial enterprise and highly-valued resource in the industry. In this blog, Chip shares his tips and tricks on how to maximize the tools and resources available at StockCharts.com, and provides updates about new features or additions to the site. Learn More
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