On June the 19th the chart below reflected underlying strength in the broad market, due to the upward slope of the advance/decline line, while the NYSE was reflecting some weakness (see post here)
CLICK ON CHART TO ENLARGE
Yes challenging news from around the world is easy to find…. yet from a price action we have to be open minded a see what is really taking place.
CLICK ON CHART TO ENLARGE
For those that are concerned about the price of equities and feel they are due to decline in price in a major way, the support lines drawn off the 2009 lows have to be taken out first.
For those looking to take positions to score on defense, the A/D line needs to reflect more selling pressure and support has to break.
