Uncovering Best Of Breed StocksPublished by Forbes on Wed, 25 May 2016
Monday's lackluster performance stock market performance was followed by a broadly based rally on Tuesday that was accompanied by very strong market internals. On the NYSE the advancing stocks led the decliners by over a 3 to 1 margin.The advance/decline lines had been in a corrective mode for several weeks but as I detailed in last week's Market Wrap section there were some key signs that I was looking for to indicate that the market was ready to move from the corrective to the positive mode. When the A/D lines are rising strongly which was the case in February when many traders were bearish ETFs and stocks can rise impressively.While the A/D lines have now moved above their Initial resistance levels it will still take a few more days of positive numbers to confirm that the market has resumed it positive intermediate trend. There were signs last week that the PowerShares QQQ Trust (QQQ), which had been lagging the Spyder Trust (SPY), was starting to become a market leader. Click here to read full news..