Breadth data continues to improve but hasn’t been reflected in the performance of the major cap weight index, S&P 500. While the number of stocks in uptrends is increasing and average drawdowns is decreasing, the performance of the mag 7/software stocks is acting as a counterweight to the improved breadth picture.
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.
Breadth Thrust Composite is at 0.
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