In my daily update of the price/volume heat map, I alluded to the advance/decline line on the NYSE. More specifically, the cumulative total of the advance/decline line, which show you below.
Just look at the trend of the advance/decline appears for the last year and then compare that to the trend in the S&P 500 over the same time period.
As the S&P 500 chugged higher, the advance/decline line has been trending sideways. This should suggest to you that the depth of the gains in the equity markets has been falling off and the breadth has been weakening. Definitely a developing situation.
Just look at the trend of the advance/decline appears for the last year and then compare that to the trend in the S&P 500 over the same time period.
As the S&P 500 chugged higher, the advance/decline line has been trending sideways. This should suggest to you that the depth of the gains in the equity markets has been falling off and the breadth has been weakening. Definitely a developing situation.
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