A look at the NYSE Advance-Decline Line
For something a little different, here is a look at the NYSE Advance-Decline Line (AD Line). I am using this to look for the next market reversal. Based on this analysis, it looks like today maybe the last up day for the market with a reversal coming end of today (3:30pm), Monday, or worst case Tuesday. This analysis is supported analysis of both the SPX and VIX trend lines.
Background in case you are new to the AD Line.
The Advance-Decline Line (AD Line) is a breadth indicator based on Net Advances, which is the number of advancing stocks less the number of declining stocks. Net Advances is positive when advances exceed declines and negative when declines exceed advances. The AD Line is a cumulative measure of Net Advances, rising when it is positive and falling when it is negative. Chartists can use Net Advances to plot the AD Line for the index and compare it to the performance of the actual index. The AD Line should confirm an advance or a decline with similar movements. Bullish or bearish divergences in the AD Line signal a change in participation that could foreshadow a reversal.
school.stockcharts.com/doku.php?id=market_indicators:ad_line
investopedia.com/terms/a/advances-and-declines.asp
Background in case you are new to the AD Line.
The Advance-Decline Line (AD Line) is a breadth indicator based on Net Advances, which is the number of advancing stocks less the number of declining stocks. Net Advances is positive when advances exceed declines and negative when declines exceed advances. The AD Line is a cumulative measure of Net Advances, rising when it is positive and falling when it is negative. Chartists can use Net Advances to plot the AD Line for the index and compare it to the performance of the actual index. The AD Line should confirm an advance or a decline with similar movements. Bullish or bearish divergences in the AD Line signal a change in participation that could foreshadow a reversal.
school.stockcharts.com/doku.php?id=market_indicators:ad_line
investopedia.com/terms/a/advances-and-declines.asp
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