[pcabc]

US Software and Services

I thought I'd post this as it shows a text book entry into state 4 [1] for the SPDR Software & Services ETF.  I've calculated the breadth against a basket of market participants.  This was generated on a semi ah-hoc basis so it with a pinch of salt.  Its worth noting that the Weinstein Momentum [5] and Gold Cross Index [15] declined before the peak, % stocks above the 200 day EMA confirms the decline as does the Advance / Decline line [2, red].