[pcabc]

I read SA some time after the 2009 bottom and since then, I don't recall the Chapter 8 indicators being so decidedly negative.  Looks like nearly all boxes are checked and it's time to tighten things up and look for shorts.  The MI has not crossed 0 yet but is headed there and has a strong divergence.  The Dow feels like its about to fall off a cliff, if it already hasn't.

NHNL was worst in 2015. Momentum, as you said, isn't in the negative zone and there hasn't been any divergence on the ADline. And all major breakdowns since 1929 have been preceded by a divergence on the AD-line (included). The divergence always lasted at least for one and a half month (1937).

I spotted a divergence between the S&P500 and NYSE AD line a while back, as IIRC someone else also did:
https://stageanalysis.net/forum/showthre...4#pid12824

I think that would also apply to the DJIA.  However, you may consider the time period too short?

I've just plotted my breadth chart back 10 years (it took a while).  According to my scoring it was worse than currently in 2015/16 and also, less so briefly, in 2010, 2011 & 12.