The uptrend in the S&P 500 is well supported by market internals. The tide lifts all boats (even leaky ones). In the same fashion bull markets lift the majority of equities…….we would be worried about the health of the stock market if the Advance Decline Line and Moving Average ratio did not partake in the advance of the S&P 500. We have no idea of how long the uptrend will last or how far it will go. All we know is that the trend is up…..and it remains strong. We will ride this trend until there is enough evidence that it is about to come to an end….market internals should provide us with adequate warning of an impending change in trend.
