Even though the NY Composite ($NYA) remains below its prior highs, the NYSE AD Line hit a new high this week and shows underlying strength. Advance-decline numbers measure the internal strength or weakness within an index. A new high in the AD Line shows internal strength that may carry thru to the index. All bullish bets are off if the NY Composite break below the mid June lows.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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