One technical indicator that Deron Wagner uses to assist him in gauging the strength behind a current trend is the Accumulation Distribution Price Volume indicator. Today he explains how it indicates that the strength of the current trend may be weakening.
The stock market indices started out the year with a bang with a big gap up, ran sharply higher in the morning, reached their highs just before noon at around the 2268 area on the Nasdaq 100 and the 1276 area on the S&P 500.
On the one hand, the deflationary contraction that began in 2007 will continue shrinking prices and economic growth. On the other hand, the inflationary expansion of the money supply that began in 2009 will go on too.
The near term base-like pattern that has developed in Best Buy (BBY) since its earnings-related plunge into the December 21 low is starting to make some headway on the upside.
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