Rally Keeps Rolling

Despite denials from the Administration, US (and global) equities continue to rally this morning on optimism regarding a lifting of tariffs on Chinese imports.  

While the S&P 500 is only just barely above its 50-day moving average, breadth, as measured by the 10-day A/D line, is near historic highs. As of yesterday’s close, the 10-day A/D line crossed above +2000 for just the fourth time since at least 1990 (there were no prior occurrences before 2005).  Normally, we consider a reading of +1,000 to be strong, but +2,000 is really strong breadth. The fact that this historically strong reading came so soon after a historically weak reading suggests more than a hint on indecision on the part of investors.

 

 

Read today’s Bespoke Morning Lineup below for major ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.