1:03pm EST: Breadth is at oversold levels which may be approaching a capitulation situation. Once reached, the market may position itself to rebound.
Original post-
Small signals indicate a task to move the market up may possibly be occurring but the effort is requiring more helpers presently. As has been the case for the last few months, most moves are happening in slow motion like a ship dragging an anchor which is probably as close as far as an analogy. New highs if, and when, they arrive may not be that long-lived but it does look like one more attempt is still needed for the coup de gras.
Simply using summed parameters, the current weekly breadth is inside previous top ranges but not yet at the 2020 level. It may not be required, there are closely observed similar alignments with 2015 - (minus)319.
Weekly Breadth {param sum}:10/1/21 - (minus)208.
Comparisons: 2015 - (minus)319, 2018 top#1 - (minus)89, 2018 top#2 - (minus)166, 2020 top: - (minus)635
The bots will flag here when they see a top. (1/25/20, 2/20/20)
This Information Is For Entertainment Purposes Only. Financial Loss Can Occur From Investing.
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