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My thoughts on breadth

I've deliberately not read  grbaNT and Isa's breadth posts as I suspect the below is less useful if I am inadvertently influenced by them.  I'll read theirs afterwords and see where things lie.

My thoughts on a breadth chart based on the S&P500 / NYSE breadth data with data up to Thursday.  Unfortunately it has not got Friday's data.  Friday felt like a strong day so there may be an impact.  Also a disclaimer, I've not been having much luck, though I am working on addressing this, so this might not be the best post to read.

   

The first obvious point to me is that we may be forming a lower high (1) compared to August 2018.  However, this diverges from the higher high on the cumulative advance decline and cumulative advancing / declining volume lines, (2 & 3).  I find, on the upside, that the cummulative advancing declining volume line leads the cummulative advance / decline line, both are forming higher highs.

From one of Martin Pring's books an indicator that is discussed is the cummulative new high minus new low line and its 100 day MA as an indication of trend.  This is about to cross in the bullish direction (4).

There  just has been a golden cross of the 50 day MA against both the 150 day and 200 day MAs.  The latter two are essentially flat, however, if you get out your microscope the 150 day MA which is critical for StageAnalysis, is actually falling.  But perhaps 'flat' is more honest a description.

To me, without the price chart, everything looks bullish, but in isolation the price chart, ignoring the MA's might be in for a pullback.  Perhaps I need to sit on the fence.  Gut (emotional reaction) is that it is bullish, but perhaps this is because I want it to be, especially as I have opened a few positions that have seen a small amount of success.