I have posted the $NYUD NYSE Advance Decline Volume indicator – which I have used as a barometer for many years. It’s currently at 1862 which is a very extreme reading and consistent with other periods of turnaround after a sharp correction. The last 3 times the indicator was in this range are marked with blue vertical lines. Below the NYUD (black and red line) I have posted the S&P 500 (all black line) so you can sense how this time compares.
The Advance-Decline Volume Line (AD Volume Line) is a breadth indicator based on Net Advancing Volume, which is the volume of advancing stocks less the volume of declining stocks. Net Advancing Volume is positive when advancing volume exceeds declining volume and negative when declining volume exceeds advancing volume.
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