SPX: Market has a bad brea(d)th
LEADING PANEL: SPX & & Volatility Stops
BOTTOM PANEL: % of SPX stocks > > 20 MA, NYSE A/D line
Area 1: The market has bad brea(d)th
When it pertains to the marketplace's structure, things aren't looking as strong as they appear.
The middle panel of the chart highlights the cumulative NYSE A/D line,
which tracks the net variety of advancing vs. decreasing stocks on the NYSE.
Now, it's flashing a caution: in spite of the index striking brand-new highs,
the A/D line isn't validating this relocation (highlighted in red).
In the 3rd panel, the portion of SPX stocks trading above their 20-day EMA
(short-term breadth) is likewise a little worrying.
It just recently struck overbought levels (>> 70) however is now decreasing,
another alerting for the marketplace's strength.
Area 2: Ab...