Here, I use a daily NYSE cumulative breadth chart with a Keltner channel measure.$NYAD
The chart is a little curious as the price momentum of the market has been rather dull so far
in 2014 while breadth has been fairly strong. That says small upticks in price as sellers are
not shy. But, note as well that the A/D line is getting rather overextended against its Keltner
band, a condition that suggests a new round of price consolidation ahead.
The SPX has received a nice boost from Ms. Yellen's pro - easy money 'pep talk' on Monday
just past. Her fingers are perfectly fine so far although she is playing with fire.
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