[isatrader]

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

Note: The S&P 500 cleared the March high level this week and the moving average breadth is in the mid 60% range, and so is making an attempt at moving into Stage 2 again. However, it closed the week with a strong down day, which caused the weekly candle into a squat for it's weekly close. So, it's a very tentative breakout attempt currently, and so needs a follow through week with strong positive close before I'm ready to call it a Stage 2 again.

The Nasdaq composite had a bad week due largely to the Facebook move, which had a knock on effect across the tech stocks that make up a lot of it's components, and small caps pulled back too. Whereas the Dow and NYSE had a strong week. So as others have already mentioned, there maybe some rotation occuring from the sectors that have been leading to the laggards.

Overall, it remains a difficult period to trade currently with very few good quality low risk setups appearing in the scans.