Morningstar Advance Decline Line by Sector

Tuesday I looked at the relentless advance in the NYSE Advance Decline line, which as of this writing is still humming along, and previous to that post we looked at the dollar weighted advancing minus declining volume, also still humming along.

Today let’s look at the A/D line but instead of the NYSE or the Composite let’s break it down by Morningstar’s 31 sectors. In the same picture we’ll also look at the number of 52 week highs by sector and the new highs as a percent of the total stocks within that sector.  I’ll let you draw your own conclusions:

The minus signs on the AD lines do not mean anything, it’s merely a function of when you began the calculations, so read nothing into the negative signs but perhaps look at the relationship between yesterday’s reading and the High A/D line over the last few years.