Did a "Double Top" Just Take Place
in the NYSE Advance-Decline?
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Advance/Decline breadth has often been a key leading indicator to important tops & bottoms in the broad market.
The cumulative NYSE Advance/Decline line hit an all-time high in May and now has rallied back to reach the May high a towards the end of July. Did a "Double Top" in this Advance/Decline line just take place?
At this point it's too soon to tell, but certainly a possibility! Keep a close eye on this measure of market strength/weakness over the next few weeks. It could be sending a key message about the broad markets!
I shared with Members that the "Shoe Box indicator" is doing something it hasn't done in the past few years!
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