Volume A-D lines bullish on SMID caps

We have highlighted new highs for the volume advance-decline (A-D) lines across the S&P 500, NASDAQ 100, NYSE Composite, and Russell 2000 as a potential bullish leading indicator for new highs on these indices (Oct 21 Charted Market Insights and Oct 15 The Chart Check).

The breadth of volume is strong across market caps, and the volume A-D lines have also hit new highs for both the S&P Mid Cap 400 and the S&P Small Cap 600. Although we would like to see the breadth A-D lines break out to new highs on these two indices, the new highs for the volume A-D lines provide a potential bullish leading indicator for new highs on the S&P Mid Cap 400 and the S&P Small Cap 600.

Chart 1: S&P 400 Mid Cap (top) and volume advance-decline line (bottom)

Chart 2: S&P 600 Small Cap (top) and volume advance-decline line (bottom)

Chart 3: S&P 400 Mid Cap (top) and advance-decline line (bottom)

Chart 4: S&P 600 Small Cap (top) and advance-decline line (bottom)

---

Disclaimer

STS is not a registered investment advisor, broker-dealer, or financial planner. All content provided by STS—including commentary, technical analysis, charts, trading strategies, and data—is offered solely for educational and informational purposes. STS does not provide investment recommendations, and none of the content should be construed as advice to buy, sell, or hold any specific security or financial product. You are solely responsible for making your own financial decisions.

Impersonal Nature of Content

The information and insights made available through STS Services are not tailored to the investment objectives or financial circumstances of any particular individual. Any mention of securities or strategies is made without regard to your specific situation, and STS makes no assessment of suitability for any user.

Past Performance and Risk Warning

Trading and investing involve significant financial risk. Past results are not indicative of future performance. The value of investments can fluctuate, and you may lose part or all of your investment. STS makes no warranties about future outcomes based on historical data. All investment decisions must be made at your own discretion. We make no guarantees regarding the accuracy, completeness, timeliness, or reliability of the information we provide. Although the content is derived from sources believed to be reliable, we do not warrant the accuracy or completeness of any information provided and are not responsible for any errors or omissions.

No Liability for Decisions

STS and its affiliates, officers, employees, contractors, and content contributors (collectively, “Representatives”) assume no responsibility for your investment actions. You agree to hold STS and its Representatives harmless for any loss or damages—whether direct, indirect, incidental, or consequential—resulting from your use of or reliance on the Services.

Due Diligence Responsibility

Users are strongly encouraged to perform independent research and consult with qualified financial, legal, and tax professionals before making any investment decisions. You bear sole responsibility for evaluating the content and its appropriateness for your particular financial goals. Use of the services is at your own risk.