Bullish breadth data has pulled back, well below levels hit two weeks ago. Bearish data remains low as well, with the market not sitting at any kind of extreme readings across indicators. I’m watching for breadth expansion in the Nasdaq 100 should we get a breakout soon. Meanwhile, Mid Caps are experiencing a bearish divergence in its breadth data, making the latest breakout suspect of failure.
Breadth Thrust Composite
A collection of multiple breadth thrust indicators based on different indices that incorporate price and volume to mark when extremely strong buying activity is taking place by the movement of individual stocks. When multiple of these thrusts occur in a short period of time, the reaction in the S&P 500 has historically been positive going forward.
No change from last week, the count remains at 0.
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