Another picture. We are looking to the advance-decline volume of the NYSE, charted in a cumulative way. We observe how this indicator trended upward with the upward sloped market trend starting in March 2009. However, since May there is consolidation.
While equity market sentiment is getting more and more positive, other indicators are not following. This is one of them.
While equity market sentiment is getting more and more positive, other indicators are not following. This is one of them.
This consolidation is confirmed by the number of issues figuring above their 50-moving average. Still 88% have a positive trend. Of course this consolidation can continue a long time.
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