RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis
S&P500 versus Russell 3000
My plot of the S&P500 versus breadth measured on the Russell 3000 constituents. My Russell 3000 constituent list is somewhat out of date. However, I doubt that it makes a significant difference.
The main thing with the S&P500 is that it is above the down trend that started in the beginning of 2022 [1]. To my eyes 4100 looks significant and it is just below it, so it will be interesting if it pushes through, pauses or drops back down off it. Also worth noting that the Weinstein Momentum [5] and 1% A/D are crossing their zero lines in a bullish direction and the Golden Cross Index [15] is near crossing 50%, so nearly 50% of constituents have their 50 day EMA above their 200 day EMA and that proportion at present is rising. The cummulative New Highs - New Lows line is near crossing above its 100 day SMA which is bullish, it looks like there may be a few new highs, but given the down trend it cannot be many.