Nasdaq A/D Issues ~ 10ma A/D is showing positive divergence even though we have seen wild swing of breadth. Lately I have not commented on market breadth because the breadth activities didn't precisely predict short term market activities as we have seen high volatility during the last few months. The last time when I closely monitored was until the market top during the last year, and since then, market breadth was gradually deteriorating into extreme levels as we have seen recently showing all time lows.
For short term market breadth, as noted above, 10 day ma is showing positive divergence indicating that the climactic selling was the during Oct 2008. Also, it indicates accumulating phase. With the recent volatility, especially going into mid Dec turn date, we could see lower price actions; however, underlying market sentiment is improving.
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