[isatrader]

Attached is my updated custom breadth charts that I do based on the daily point and figure double top breakouts and double bottom breakdowns.

Totals for the week:

+142 double top breakouts
-1174 double bottom breakdowns

-1032 net breakdowns

                       

[isatrader]

Below is the Percent of Stocks Above their 150 Day Moving Average table in each sector. Also attached is the visual diagram of the 9 sectors and the two major exchanges that make up the sectors that shows a snapshot of the overall health of the US market and the data table of the sectors which is ordered by overall health.

Note: the overall sector average is at 27.62% currently and declined -9.77% since last week.

       

[isatrader]

Here's the overview charts of the US Bullish Percent and Moving Average Breadth.

Note: Although the price action doesn't fit the traditional look of early Stage 4 in the charts. The market breadth is very much in Stage 4 imo, as it has reached the lower regions of the breadth measures on all time frames for everything except the Dow, which you didn't see in the Stage 3 period that we had at the start of the year. So I'd argue that we are actually in Stage 4 currently, as the breadth never recovered fully and diverged from the price action in the later summer. Plus the price action is now quite far below declining 30 week moving averages currently.

For me personally, I prefer using the 'Weight of Evidence' from the breadth to determine the Stages than the actual price action in the major market indexes, as the price action in the indexes are just averages, and are weighted, and hence they lag and can be held up by a small number of stocks with bigger weightings, whereas the market breadth leads, as every stock is equal. So it always gives better guidance of the actual market Stages imo.

                   

[isatrader]

Attached is the updated NYSE Advance Decline Breadth Charts, including the cumulative AD line, momentum index, cumulative AD volume line, 10 Day AD oscillator and the McClellan Oscillator and Summation Index.

                       

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Attached is the NYSE and Nasdaq US New Highs / New Lows charts.

               

[pcabc]

Breadth plots

US:
           

UK:
           

Gold and CRUD.L versus oil and gas producers:
       

[pcabc]

Breadth:

US
           

UK
           

Gold and oil and gas producers
       

[GlobalCitizen]

Breadth:

US


UK


Gold and oil and gas producers

Nothing spectacular. Seems that we touched february's support though. I think next week will give us more direction.

[pcabc]

Nothing spectacular. Seems that we touched february's support though. I think next week will give us more direction.

Yep.  Suspect either it will bounce off an average when rising, (which one?*), or it will go sideways for a very long time.  Note, in the long tradition of predicting the future my predictions are suitably broad that I can likely claim to be correct whatever happens...

* yes, I know that this is not valid punctuation, but it ought to be valid.