[isatrader]

...One thing I think could be useful for us on this site as another breadth indicator is digging down into the S&P internal (whether this is something that Stan Weinstein is referring to in his recent December 2013 interview on Financial news hour when is says 'Proprietary Secondary Surveys'...I am not sure

The Proprietary Surveys he mentioned in the interviews are explained briefly in the book in the footnote on page 76 and chart on page 77. But basically Weinstein and his staff mark down the stages of every stock in the S&P 500 and the small and mid caps. So it covers the S&P 1500 mostly these days. But when the book was written in 1988 it used to be called the NYSE Survey, so was obviously broader back then.

What it is, is the percentage of stocks in Stages 1 & 2 in those markets, and works in exactly the same way as the NYSE percentage of stocks above their 150 day (30 week) moving averages chart that I show each week on here. Weinstein was asked about the correlation between his Proprietary Surveys and NYSE percentage of stocks above their 150 day (30 week) moving averages chart in the 1997 Technically Speaking interview on page 439, and he said that in his opinion that they have around a 75% to 80% correlation to his Proprietary Surveys. Which could be heard in this weekends interview that mentioned that two thirds of the market in his survey were in Stages 1 & 2, which compares to the weekend reading of the NYSE percentage of stocks above their 150 day (30 week) moving averages chart of 64.15%

So the moving average breadth charts are the closest thing that we have to his Proprietary Surveys of Stage 1 and Stage 2 stocks without a $10,000 a year subscription, and do a very good job of keeping us on the same path as Weinstein's subscribers.