Muted Breadth at Record Highs 📈 The Chart Report
Chart of the Day
🏆 Today's Chart of the Day was shared by Andrew Moss.
The S&P 500 ended last week at record highs, but breadth remains notably below its year-to-date peak.
Participation hasn’t been able to keep up the pace, with just over half of S&P 500 stocks holding above both their 50-day and 200-day moving averages.
When fewer names are doing the heavy lifting, it leaves the index more vulnerable if leadership starts to falter, but it also raises the possibility of a bullish breadth thrust if participation begins to expand.
The Takeaway: The market has continued to grind higher in a concentrated fashion.
More Great Charts
Technology is breaking out to fresh all-time highs relative to the S&P 500, surpassing its dot-com era peak after more than two decades.
Read the full analysis from Alfonso De Pablos.
SK Hynix, the top holding in both the Memory ETF (DRAM) and South Korea ETF (EWY), is surging to new record highs.
See the entire post from Connor Bates.
The Momentum Factor ETF is testing a major multi-year polarity zone relative to the S&P 500.
Check out the latest article Rotational Investing.
High Yield bonds have yet to make higher highs along with the S&P, Nasdaq, and semiconductors.
View the whole tweet from Bonnie Gortler.
Commercial traders are holding an extreme net-short position in Bitcoin.
See the complete post from The Market Stats.
The Bloomberg Spot Commodity Index hit another new high, marking its 38th 252-day high in the past year.
Read the full note from Turning Point Market Research.
The Corn ETF has climbed to fresh 52-week highs.
View the entire tweet from Eric De Groot.
We're currently in a seasonally strong period for Crude Oil.
Check out the whole post from Equity Clock.
The U.S two year yield is moving higher out of a massive compression pattern.
Read the full article from Alex Barrow.
The Chart Report curates best-in-class technical analysis from across the web.
If you’d like to share a chart or just say hello, email us at info@thechartreport.com
