What Is Market Breadth Telling Us? 📈 The Chart Report
Chart of the Day
🏆 Today's Chart of the Day was shared by Rachel Dashiell.
Beneath the surface, market breadth has remained surprisingly resilient despite the recent volatility.
The percentage of stocks trading above their 20-day and 50-day moving averages has continued to improve over the past couple weeks, even as the S&P 500 tracks toward its second-straight weekly decline.
At the same time, NYSE new lows have been declining, suggesting capital is rotating into previously lagging areas of the market.
The Takeaway: While the broader market may be pulling back, underlying breadth has continued to improve.
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