[JimStudent]

Market Breadth.

I'm uncertain which way this is going. Though there has been a resurgence in strength only the technology sector (and tech heavy Nasdaq 100) and perhaps US consumer disretionary seem to be making new highs.

Interesting your momentum index is headed south. Also, if you look at the individual sectors, approximately 90% of the sectors are in stage 3 or 4. Or another way of saying that is only approximately 10% of the sectors are healthy in stage 1 or 2. If that doesn't turn around soon the market is headed south. (IMO)

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Also if you look at market tops for $SPX. (aprox)
1/1/2000 the market opened at 1441 and closed the year at 1320

1/1/2007 market opened at 1409 and closed the year at 1401

Both market tops lasted about 1 year and the market headed south

1/1/2015 the market opened at 2058 and we are at 2091 today - looks similar to previous two market tops.