Advance/Decline Line Warns Investors with Triple Top Breakdown!

ph.investing.com/analysis/advancedecline-line-warns-investors-with-triple-top-breakdown-183446

By Chris Kimble | Oct 06, 2023 03:06

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We have been highlighting several market indicators trading at critical time/price areas over the past month or so.

And today is no different as we take a look at the Advance/Decline Line for NYSE common stocks.

This is a very important measure of market breadth looking at the number of advancing versus declining stocks each day.

As you can see in the chart below, the Advance/Decline Line (A/D Line) created a double top (blue shade) before creating a triple top at (1). And now it is breaking down below support at (2). Yikes!

Looking at the lower pane in the chart, I humbly ask, “will the S&P 500 follow the leading indicator and break support at (3)???

Could the A/D Line be sending a new message to the markets with its breakdown at (2)? Stay tuned.

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Advance/Decline Line Warns Investors with Triple Top Breakdown!

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