RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis
S&P500 versus Russell 3000 breadth
Looking at nearly all the indicators, over the last week there have been some moves upward. Price, 1, seems to be bouncing off just below 4750 - perhaps a volatility contraction pattern? However, at present the Advance / Decline, 1 red, is weaker, but the A/D volume is stronger. The Weinstein Momentum, 5, and 1% Advance / Decline, 6, have been trending lower. They have upticked over the last week, but really that is just noise. The McClellan oscillators, 7 & 8, have moved positive, but the longer term summation indicies, 8 & 10 are negative and still sloping down.
The % stocks above their 20 & 50 day EMAs have moved up and the %s above their 20 & 200 EMAs are both above 50%. However, the Silver Cross Index, 14, has just crossed, in the negative direction, its 50% line. The Gold Cross Index, 15, remains above 50% but is falling. At best things are weak.