Net Advance on Advance-Decline Series and Declining S&P 500: Insights from Technical Analysts

Understanding the Relationship between Net Advance and S&P 500 Decline

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Question

A net advance on an advance-decline series for the NYSE, coupled with a declining S&P 500 would, according to technical analysts,

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Technical analysts predict that when a market index is declining, but most stocks post price increases, the market is near its trough. Conversely, they predict that when a market index is increasing, but most stocks post price declines, the market is near its peak.