Don't Ignore This Chart!

S&P 1500 AD Line Holds Short-term Support

 | 
The S&P 1500 AD Line ($SUPADP), which is a key breadth indicator, has yet to break support and remains in bull mode. Notice how the AD Line established lows from mid July to early August. These lows mark a support zone that chartists should watch for clues on market direction. A break below support would signal an increase in selling pressure and argue for a correction. You can read more about StockCharts breadth data in our ChartSchool.

130813supadl

Click this image for a live chart
Arthur Hill
About the author: , 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. Learn More
Subscribe to Don't Ignore This Chart! to be notified whenever a new post is added to this blog!
comments powered by Disqus