[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.