Tuesday, December 22, 2009
Tracking Recent Market Strength
We've been seeing new bull highs in the NASDAQ 100 Index (QQQQ; bottom chart), and even the formerly lagging Russell 2000 Index (IWM; top chart) is now knocking on the door of bull highs. Meanwhile, after today's action, we're seeing bull highs in the advance/decline lines specific to NYSE common stocks, as well as the A/D line for the S&P 500 stocks. This fits with the scenario laid out in the recent indicator review.