[isatrader]

Attached is the exclusive S&P 500 Cumulative P&F Breakouts - Breakdowns charts.

There was 13 breakouts and 21 breakdowns this week in the S&P 500, which takes the total for December so far to 28 breakouts and 38 breakdowns, which has meant a slight pullback in the uptrend to just below the rising 20 day moving average once more. And so currently that puts this measure into neutral territory, as although the cumulative total doesn't fall below the 20 day MA often to be more negative I'd want to see the 20 day MA flatten and turn down also, and hence for the time being I think the data suggests it's only a pullback currently, and so it needs more confirmation until it's considered anything worse imo.

           

The next charts I've setup in the same way as the 10 Day MA Advance Decline Oscillator and the Momentum Index, in that they are just moving averages of the straight breakouts minus the breakdowns data with the pure data hidden. For example, you can see the 20 day MA on the third chart above with grey straight breakouts minus the breakdowns data, and the 20 day MA on it's own in the second chart below.

           

The 20 day MA has been the main moving average I've been using for these breakouts minus breakdowns charts since I began doing them as it's equivalent to one month of trading days. But I thought it would be interesting to look at a shorter 10 day MA and a longer 50 day MA also, to get a perspective from different timescales. The results are interesting in that although the short term 10 day MA has broken below it's zero line, and the 20 day MA is approaching it's zero line also, the 50 day MA had strong surge in October to highs not seen since January and is currently still above it's summer highs, although it's been trending lower over the last month. However, it's a long way from a bearish zero line crossover which was last briefly seen in November 2012, and so by this more medium term measure it seems less bearish than the short term which is negative.

Disclaimer: This indicator is something I've created myself and been following over the course of the last year or so, and so the data sample of only two years is still very small and hence I'm still working out how to best interpret the data, and that will get better with time. But it's seems to have a lot of promise so far imo...