[isatrader]

I noted a few days back in the Daily Breakouts and Breakdowns in S&P 500 thread here: http://stageanalysis.net/forum/showthrea...479#pid479 that the Cumulative line had broken below the 20 day MA that I'm using as a signal line and so had given an initial sell signal. This continued through to the end of the week with more stocks breaking down than were breaking out with only 10 breakouts to 59 breakdowns in the S&P 500 during the week.

The data I have for this measure only goes back to the beginning of 2012 and so there's only two similar periods to compare against for where it is currently. The first was in April 2012 and the second in late October 2012, and so as both preceded a breakdown within a number of weeks following those points, it seems only sensible to consider it a warning sign here, although it would be averted if the breakouts minus breakdowns reverses back up again to start making new highs once more.

Attached is the updated charts