RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis
S&P500 versus Russell 3000
% stocks over their 20, 50 and 200 day EMAs are approximately 75, 70 and 50% respectively [2, 3, & 4]. THis is looking strong except for the % stocks over their 200 day EMA which you would think would be stronger if the index was rising so strongly. My estimation of the % stocks in Stage 2 and 4 show slightly more stocks in Stage 2 than 4. However, given that these are around the 33% level I'd want to see the number in Stage 2 rise to so it was clear the broader market was in Stage 2.
All in all I think that breadth is a bit of a mixed bag. There are some bearish and some bullish indicators. So although some of the indicies are strong need to be cautious.