This Is Bullish: Market Breadth Is Soaring To Highs Of The Year

Beyond the headline market rebound, Arthur Hill at StockCharts.com makes the following observation, which emphasises the strength of this rally:

NYSE and Nasdaq breadth continues to expand and back up the current rally. From the breadth charts page at Stockcharts.com, we can see the NYSE AD Line ($NYAD) and Nasdaq AD Line ($NAAD) moving sharply higher the last five weeks. Also notice that the cumulative Net New Highs lines are also moving higher.

chart

Photo: Stockcharts.com

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