S&P 500 Cumulative A/D Line Nears Prior Peaks

One of the hallmarks of the current rally off the February 2010 lows has been the S&P 500's strong breadth, which even after the recent pickup in volatility, remains supportive of the market.  Following today's rally, the S&P 500's cumulative A/D line is just shy of its prior peak from April 23rd (4,894 vs 4,951).  As long as breadth remains at or near bull market highs, the outlook for equities remains positive.