Market Breadth Indicator – Advance Decline Numbers Outlook For Wed Oct 24 2018

It was an incredible day on Tuesday as markets opened lower and the S&P collapsed through the Oct 11 low and briefly broke support at 2700. But at that point volume slowed and selling stalled. Within a half hour with no further declines, buyers returned and pushed the S&P all the way back to the 2750 level. It was an incredible rally. The close saw the indexes slip back but the S&P cloed down just 15 points at 2740, a long way above the early morning low.

The NASDAQ fell to 7260 early morning but it too rallied to reach 7472 before slipping lower by 31 points in the final half hour of trading. It closed at 7437.

So does this mean the correction is coming to a close? For some answers let’s look at the Market Breadth Indicators from Tuesday after the close.

Advance Decline Numbers Outlook for Wed Oct 24 2018

Here are the market breadth indicator signals along with advance decline numbers from the S&P 500 Index and NASDAQ Index from the close of trading on Tue Oct 23 2018.

There are significant changes again tonight in the Market Breadth Indicator signals, the State of the Correction and the market protection outlook. Members should review the signals before trading resumes on Wednesday.

The market breadth indicator analysis and outlook is for FullyInformed Members.