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The following table contains data on market advances and declines.

AWN- Advances 1, 011 723 721 608 483 Declines 799 991 894 1, 178 1,095 Advances 977 1,072 917 955 773 Declines 772 819 722 80

a. Calculate cumulative breadth.
(Negative amounts should be indicated by a minus sign.)

Day Advances Declines Net Advances Cumulative Breadth 1,011 799 723 721 608 483 977 1,072 917 955 773 991 894 1,178 1,095 772


b. Decide whether this technical signal is bullish or bearish.

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Answer #1

Requirement (a)- Cumulative Breadth.

Day

Advances (a)

(in millions)

Declines (b)

(in millions)

Net Advances (c) = (a) – (b)

(in millions)

Cumulative

Breadth

(in millions)

1

1,011

799

212

212

2

723

991

-268

-56

3

721

894

-173

-229

4

608

1,178

-570

-799

5

483

1,095

-612

-1,411

6

977

772

205

-1,206

7

1,072

819

253

-953

8

917

722

195

-758

9

955

808

147

-611

10

773

766

7

-604

Requirement (b)

The technical signal is “BEARISH”, because the cumulative breadth has a negative balance at the end of the Day 10.

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