Even though the NY Composite ($NYA) remains below its prior highs, the NYSE AD Line hit a new high this week and shows underlying strength. Advance-decline numbers measure the internal strength or weakness within an index. A new high in the AD Line shows internal strength that may carry thru to the index. All bullish bets are off if the NY Composite break below the mid June lows.
http://blogs.stockcharts.com/dont_ignore_this_chart/2012/07/nyse-ad-line-shows-strength-with-new-high.html
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