Stocks held up well on Monday and while the Spyder Trust (SPY) was up only slightly the A/D ratios on the NYSE were 2-1 positive. The S&P 500 A/D ratios were also strong and both A/D lines have continued to make new highs as they have surpassed the late December peaks. The fact that the A/D line was leading prices higher was instrumental in identifying the February lows (The Week Ahead: Is There Blood In The Streets Yet?). The Spyder Trust (SPY has surpassed the 61.8% Fibonacci resistance from t...
Stocks held up well on Monday and while the Spyder Trust (SPY) was up only slightly the A/D ratios on the NYSE were 2-1 positive. The S&P 500 A/D ratios were also strong and both A/D lines have continued to make new highs as they have surpassed the late December peaks. The fact that the A/D line was leading prices higher was instrumental in identifying the February lows (The Week Ahead: Is There Blood In The Streets Yet?). The Spyder Trust (SPY has surpassed the 61.8% Fibonacci resistance from t...
Share this Article
Comment on this Article
Recommended
Please to comment