The chart above shows the daily count of the number of issues which advance in price on the New York Stock Exchange (black line) and the 10 day moving average of this number (red line). I commented on this data a few days ago.
Despite the terror news this morning the market held up very well and today's count of advancing issues was higher than yesterday's. It was also higher than the worst day recorded during the drop from the 1225.20 high made on June 17. Notice also that the 10 day moving average turned up a few days ago.
These are all signs of underlying strength and reinforce my conviction that the market is on the verge of a big rally.
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