My attempts at market breadth.
Dow Jones Industrials v NYSE breadth data:
The cumulative new highs, new lows and its crossing of its 100 day average comes form Martin Pring rather than Stan Weinstein. Added it as it is a measure with little subjectivity.
Similar for S&P500:
NASDAQ:
AMEX:
UK
Caution needed here as I've calculated the breadth for the FTSE350 myself. Note also the difference in the MA on the advance / decline line between FTSE100 and MIDD.L:
You will note differences in the advance/decline line where it crosses the 200 day MA at the begining of July for the FTSE250 graph but not the FTSE100 graph. Not sure why. I'm guessing there might be differences in the dates for which I have date for the FTSE100 and MIDD.L but there are no obvious gaps.
Sectors
Here is where real caution is needed. Once I had calculated the FTSE350 breadth data it was relatively easy to calculate breadth data for other sets of stocks. I have calculated breadth data for biotechs, gold miners, banks (mainly US regional) and UK REITs. I added a number of US regional banks into my database for interest following them being highlighted by Garbs. The danger with this data is that the specific set of stocks used for these calculations are not selected scientifically so there might be bias. I'm not sure whether these are useful but I thought they might prove interesting.
I wonder if these mean that biotechs are stronger than the market in general so might hold on longer than the market in general or does it mean that they could drop rapidly to follow the general market? One thing these charts make clear. I'm not buying any gold miners for a while.
