Market Breadth

The cumulative NYSE advance / decline line has made a new all-time high this week. NYAD Daily
The top panel shows the broad measure VLE (featured yesterday). As seen, it has failed yet to
recover its high, revealing the sharp slowdown in price momentum. The momentum of the A / D
line has also slowed but remains nicely positive (bottom panel). The chart also shows the RSI of
the A / D line. It is approaching an overbought level, which signals the market may be getting a bit
toppy for the short term.