Market Breadth Data******************************

Tuesday, April 16, 2024

SPX Downside Target

 SPX trying to find support at the downside weekly target:




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Saturday, April 13, 2024

SPX Weekly Targets

 The SPX dropped to within 10 points of the downside weekly target and finished the week like it did the week before - oversold market breadth and declining price targets:











The difference is that market breadth declined even further to levels not seen since December '23 and February '24. One can expect a similar reaction and a bounce off of oversold levels.

The next weekly targets are 5050 - 5250, Pivot line at 5150:



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Thursday, April 11, 2024

SPX Pattern and Trend

 During an uptrend, oversold market breadth readings lead to an immediate rebound:










In a downtrend, the picture is different:



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Tuesday, April 09, 2024

SPX and Market Breadth

 A simple and intuitive way to track market breadth with overbought/oversold levels:



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Saturday, April 06, 2024

SPX Pattern and Trend

 For the first time since January, the SPX closed at /below the Pivot line:







At the same time, the daily Pattern oscillator is testing oversold levels: 






favoring a continuation of the rally (despite lower weekly targets), until the weekly uptrend  or the 1 x 1 angle gets broken:



















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