Advance/Decline Line 大盤漲跌家數線

上圖：2020年9/23日大盤指數收12,583.88 (-61.63)  
下圖：Advance/Decline Line

 

 

 

 

 Interpret the Overrated Advance-Decline Line

Advance-decline lines are far from precise because they frequently veer sharply lower long before a bull market finally tops. In other words, the market keeps advancing toward higher ground, but it is being led by fewer but better stocks.

The advance-decline line is simply not as accurate as the key general market indexes because analyzing the market’s direction is not a simple total numbers game. Not all stocks are created equal; it’s better to know where the real leaderships is and how it’s acting than to know how many more mediocre stocks are advancing and declining.

At best, the advance-decline line is a secondary indicator of limited value………No secondary measurements can be as accurate as the major market indexes.

 

                                -----William J. O’neil

As long as both the advance-decline line and the DJI are moving higher in gear with each other, there's nothing to worry about; it's very unlikely that the market will experience even a significant correction. ------------Historically, the NYSE advnce-decline line reaches its ultimate peak five to ten months before the blue chips top out.

                                 ------Stan W.