Info!! The Bull Marketplace Is Over For Much Of The Stock Market

The recent post highlighted the unusually weak breadth inwards the recent stock market.  Above is an update.  You tin run into that the Cumulative NYSE TICK--a stair out of upticks vs. downticks across all NYSE shares--has tailed off, fifty-fifty every bit nosotros made fresh cost highs inwards SPX (top chart).  This is the get-go fourth dimension this has occurred since the start of the bull market.

Much of this weakness tin survive attributed to the unusually weak activity amidst pocket-sized caps too latterly yesteryear midcaps every bit well.  As you lot tin run into from the bottom 3 charts (shout out to the Index Indicators site), the percentages of stocks trading higher upwardly their 200-day moving averages bring been making lower highs every bit SPX has made recent cost peaks.  The midcaps made a double cost overstep earlier turning downwards lately, too the small  caps brutal good brusk of their early on July peak.  

As of Friday's close, 74% of large cap stocks (SPX) traded higher upwardly their 200-day moving averages.  For the midcaps, that let on is 45%; for the pocket-sized caps, it is 37%.  Incredibly, every bit we've been making all-time novel highs inwards the large cap averages, the bulk of other stocks bring non been trading inwards uptrends.  Even inside the large cap universe, fewer too fewer shares bring participated inwards the strength.  At the recent peak, exclusively 15% of SPX stocks registered novel 52-week highs, downwards from 22% inwards early on July.

The bull marketplace grows narrower too narrower, precisely the existent intelligence is that the bull marketplace is over for a pregnant portion of the stock market.
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