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Attached is chart showing internals of SP500 using High Growth Stock
Investor which can slice and dice about any index or group. HGSI ranks each
security A, B, C, D, E according to its price and volume pattern. A & B are
accumulation. D & E are distribution, C is neutral ... these are then
counted for groups or indexes.
From top to bottom. I don't mess with ADX. Index Advance/Decline Line
is rising strongly and above its average. A & E Accum/Dist shows A
stocks (green) holding well above E stocks (red) although I would add
that the green line is not showing accumulation to support much upside. Index
%A&B measures the A & B accumulation stocks against the MA and it is not
confirming the current leg.
Bottom line ... I don't see evidence of distribution, however it does look
like this rally is running low on gas.
Earl
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