RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis
S&P500 versus Russell 3000
This is the S&P500 plotted against breths calculated for a rather outdated list of Russell 3000 stocks. Likely makes little difference to the outcome.
The index itself [1] is in a pullback, is this the endo f the pullback or will it make a new low?
The A/D line [2, red] has not diverged, but is headed downward. For some reason A/D Volume [2, yellow] is stronger?
New Highs minus New Lows [3] have mainly been negative since January [3], with the expected impact on the cummulative line and its SMA [4].
Weinstein Momentum [5] and 1% A/D [6] are below their zero lines.
The % stocks above their 20, 50 and 200 day EMAs are all well below 50% but seem to be having a small recent increase following a dip [11, 12 & 13].
The SCI and GCI [14 & 15] are all falling and are below their EMA which are also falling.
Overall this looks rather negative, albeit there might be a minor short term breadth increase, but much smaller than the long term trend.