Market breadth on this weekly chart is clearly lagging this whole year. This divergence is worrisome. I feel the market will be supported till year end, for all the various reasons, but the strength is clearly not their. The index futures have been a favorite tool for market manipulation and IMO has created this divergence as the underling stocks that make up the index are not making the cut.
SP 500 new highs minus new lows
- Thread starter Rickshaw Man
- Start date
Just remember, im not trying to make any predictions here, just pointing out the facts. I have provided some information and you will have to make your own interpretations.
So far this advance off the lows looks pretty wimpy
2009 move off the lows.
2003 move off the lows....new highs-new lows.
Good positive market breadth is not there yet.