Chart of the Week
NDR: The Bull Market Debate
Despite some indicator deterioration featured in recent weeks, NDR remains overweight stocks. To give clients a look at the potential other side of the debate, Ned Davis highlights that this has been a very weak bull market on an internal basis. The chart above shows the all markets daily A/D Line at a new bear market low. As one can see, in the secular bull market since 2009, this is very much “out of character”.
