S&P 500 ‘Pressure Gauge’ Suggests Relief Rally Still Going
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The equity bulls are still running, according to a technical gauge that measures the impetus to buy or sell stocks.
The index’s DVAN trend line -- a proprietary divergence analysis that measures buying or selling pressure -- is on its longest buying streak since the euphoric run-up that ended in February’s market tumble. Market pressure is measured by the overall range of divergence between the benchmark’s trading level and the trend line.