Another strong day on the market today - up + 0.9%. Advance/Decline Ratio was solid at 1.55 and the net NewHighs/NewLows was seven.
So it's all hunky dory on the ASX.
The A/D Line has been up six days in a row - so we're probably close to a consolidation period.
Longer term the biggest problem for the market is the gradual lowering of volume traded. Unless volume picks up soon - this will probably have a negative result in a lower general market Index. Above is the volume chart since before Xmas 2008. The XAO can, of course, continue higher on lower volumes. But the probabilities become less and less as the volume gets turned off.
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