The market was up strongly today to provide follow through buying on yesterday's reversal day. It's not out of the woods yet - but it certainly looks good for the bulls. There's a heap of resistance overhead - and the 50-Day MA is still a long way away.The A/D Ratio was strong for the second day in a row - up near the top of the mid-range (This is a relative marker set for bull markets. During bear markets the mid-range would fall down to the 1.0 level.)
The down trend in the A/D Ratio has now clearly been broken to the upside. The yellow line on the chart is the 13-Day MA which has kicked upwards - a bullish sign.
Cheers
Red
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