The Nasdaq AD Line extended its year long uptrend with a surge and new high in December. The chart below shows the AD Line with a series of rising peaks and rising troughs (higher highs and higher lows). Also note that this new high in the AD Line confirms the new high in the Nasdaq Composite, which means market internals are running bullish.
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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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