I wrote in Sunday’s note about the lack of follow through on downside breath with net 52-week high/low not reaching a specific level. That doesn’t mean we aren’t still seeing 52-week highs, last week that level did hit a new trend high. Breadth remains weak for individual stocks, later in today’s note I look at breadth from a different angle, how many large cap industries are making new 52-week lows and the level I’m watching there. There’s been a lot of talk about the back-to-back 90% up days for large caps. This is meaningful but not a Thrust I track, focusing more on volume than pure advances.
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.
Keep reading with a 7-day free trial
Subscribe to Thrasher Analytics to keep reading this post and get 7 days of free access to the full post archives.