The change in outlook has been confirmed by the sentiment data from the American Association of Individual Investors as 46.2% were bullish the week of January 5th. As the Spyder Trust rebounded in the fall of 2015 the weekly A/D line made lower highs (line b) as it was weaker than prices. These bullish divergences along with low bullish sentiment and other bullish technical signs suggested a bottom was being formed. Since then the weekly A/D line has stayed above its WMA except for five weeks ahead of the election. The A/D line has continued to make new highs, line c, which is consistent with a strong market.

Source: Forbes February 07, 2017 17:08 UTC