S&P 500 10-Day A/D Line

Below we highlight the 10-day advance/decline line of the S&P 500.  This measures the 10-day average of the daily advancers minus decliners in the index.  As shown below, the 10-day recently dropped below levels seen in early March and has attempted to stabilize in the last couple of days.  This is one indicator that we're following closely for signs of a positive divergence with the actual price of the index.