RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis
Divergence between S&P500 and Russell 3000 A/D line?
Is anyone else noticing a divergence between A/D and the S&P500. Note, my Russell 3000 constituents are out of date as I've not checked them in a long time, and I use them as a proxy for the NYSE since I lost easily obtained NYSE A/D data. With that caveat out the way I'm seeing a divergence, the S&P500 is making new highs but the A/D line is not:
The whole breadth chart is below:
For the whole chart key points seem to be:
* The % stocks about their 50 day EMA has been in a long decline and is now below 50%.
* The % above their 200 day EMA is above 70% may be on a slow decline.