Both the price indexes and the NYSE A-D line did what they needed to do on Thurs. Nov. 20, 2014. The A-D ratio registered a +977 today, which was a good reading in relation to the magnitude of the price rises in the Dow and SPX. The daily and weekly charts of the A-D line did not resolve their technical problems, but they did take another step in that direction. A strong A-D line performance on Fri. Nov. 21, 2014 will nullify the weekly A-D H & S pattern and eclipse the previous uptrend high of the daily A-D line.
The NYSE McClellan Oscillator has made a nascent move up from the 0 area (-3), which a strong A-D day would turn into a full blown uptrend with rising bottoms starting at -65 and passing through -3. Incidentally this potential trend line would not be so steep as to be easily broken. Tomorrow could turn out to be a big technical day for the continuation and power of this uptrend.
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