What comes next for the S&P500? Are we finally breaking above $420… ? My best guess is a breadth expansion with broader participation while the mega cap names take a back seat over the coming weeks. How do you see it?$SPX $SPY pic.twitter.com/yAiCpgTkmb — Sam McCallum (@Honeystocks1) May 26, 2023 Today’s Chart of the Day […]
Chart of the Day – Monday, March 27th, 2023
$RSP vs. $SPX pic.twitter.com/7cpxMA7JMQ — Larry Thompson (@HostileCharts) March 27, 2023 Today’s Chart of the Day was shared by Larry Thompson (@HostileCharts). It’s a ratio chart of the Equal Weight S&P 500 vs the traditional Cap Weight S&P 500 (RSP/SPX). Breadth has become a concern in recent weeks, as a handful of Mega Cap Tech stocks […]
Chart of the Day – Thursday, February 2nd, 2023
The number of sectors trading above their 200-day moving averages has gone from zero in September to ten as of yesterday. All prior zero-to-ten cases since 1973 are marked on the chart and have generally been good buying opportunities. pic.twitter.com/QTkYXWg86Y — Rob Anderson (@_rob_anderson) February 2, 2023 Today’s Chart of the Day was shared by […]
Chart of the Day – Wednesday, January 11th, 2023
Encouraging action in one of my favorite breadth indicators, the percent of $SPX stocks above key moving averages. Both remained above the important 50% level, suggesting stocks broadly speaking are in a bullish phase. Food for thought! pic.twitter.com/goPEYwRZzp — David Keller, CMT (@DKellerCMT) January 11, 2023 Today’s Chart of the Day was shared by David […]
Chart of the Day – Wednesday, November 23rd, 2022
The S&P 500 has gone from less than 5% of stocks above the 50-day Moving Average to over 85%, a historically bullish development. However, the occurrence in August didn't draw higher prices like it has in the past. Watching if this time is different. pic.twitter.com/nXYUDdTmdU — Andrew Thrasher, CMT (@AndrewThrasher) November 23, 2022 Today’s Chart […]
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