The S&P 500 has broken out of its consolidation and breadth has been improving. We have a lot more red in the Bearish Breadth category and in this week’s breadth note I look at the confirmation data that supports the breakout as well as some that are still lagging but could pick up soon. Overall, earnings season has helped bolster stocks as we move into one of the more volatile months of the year.
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.