Breadth Statistics: What Do They Tell You? by Tom McClellan
ARTICLE SYNOPSIS ...Stocks & Commodities V. 22:12 (68-72): Breadth Statistics: What Do They Tell You? by Tom McClellan
Let's revisit the advance/decline line.
Advance/decline (A/D) statistics have been used since 1926, when they were first analyzed by Col. Leonard Ayres and James Hughes of the Cleveland Trust Co. In the early 1960s, the use of the advance/decline line gained more attention with the writings of Richard Russell, Joseph Granville, and others who were able to
demonstrate its effectiveness when it showed a diverging condition during the 1961?62 market top.
A/D LINE BASICS
There are different ways ...