[isatrader]

NYSE and Nasdaq Bullish Percent Indexes both had strong down moves this week of -14% to -16%, with the Nasdaq BP making a third P&F breakdown since the first in February from the upper zone. 

               

---

Short Term Percentage of Stocks Above Their 20 Day EMAs in the Nasdaq, NYSE, S&P 500 Large Caps and S&P 600 Small Caps

All areas of the US market reached the lower zone on Friday with very strong selling across the board. So we are now in the value zone where risk reward is highest, but it is also the most dangerous area initially until the selling reaches its climax. Bullish signal is on the reversal back through the key 30% level.

               

---

US New Highs - News Lows continued to move lower into the end of the week and on the 5 day average chart made a lower low than we've seen compared to the 8 other small corrections over the last few years. So it is now the third lowest level since late 2018.

               

---

The Advance Decline Line charts continued lower this week with NYSE giving up the breakout level and dropping back into the range and the Nasdaq making a lower low.

       


McClellan Oscillators & Summation Indexes have remain negative but Oscillators approaching the lower extremes. So on alert for reversals.

       

---

I'm going to go through the market breadth charts I've posted in Part 1 of the Members Weekend Video, which I'm just prepping for now. So don't worry if you don't understand them from the posts, as I will go through them in more detail in the video and explain how to read them.