Distribution visible

Distribution is clearly visible on the Nasdaq Composite Index. We had 7 negative days in last 12 days.Many of the momentum leaders are now in correction mode. Series of Chinese stocks had high volume correction after a multi month rally. The drug and biotech stocks are another set pf stocks that had big down day on Friday.But this market has repeatedly bounced back from such setbacks for last 18 months. Will that continue, we will find out soon.

via stockbee:

Distribution is clearly visible on the Nasdaq Composite Index. We had 7 negative days in last 12 days.

Many of the momentum leaders are now in correction mode. Series of Chinese stocks had high volume correction after a multi month rally. The drug and biotech stocks are another set pf stocks that had big down day on Friday.

But this market has repeatedly bounced back from such setbacks for last 18 months. Will that continue, we will find out soon.

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Distribution visible

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Trading, biotech-stocks, chinese, chinese-stocks, composite, drug, friday, market, momentum, negative-days, that-continue

Nasdaq AD Line Confirms Underlying Strength

via StockCharts.com – Blogs:

The Nasdaq AD Line extended its year long uptrend with a surge and new high in December. The chart below shows the AD Line with a series of rising peaks and rising troughs (higher highs and higher lows). Also note that this new high in the AD Line confirms the new high in the Nasdaq Composite, which means market internals are running bullish.

Click this image for a live chart

For more info: Nasdaq AD Line Confirms Underlying Strength

StockCharts.com – Blogs

Nasdaq AD Line Confirms Underlying Strength

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Trading, composite, internals, lows, market, nasdaq, result, troughs, uptrend