Breadth continues to be a problem for this market, the table below clearly shows that. Bullish data keeps getting more read and bearish data keeps getting lighter. We currently sit with half of the large cap market in a down trend with expanding new lows for smaller cap stocks. At the bottom of this note I show one chart that can be useful in identifying periods of market capitulation, when bearishness peaks and lows can be formed.
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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