It has been a while since we have highlighted all or nothing days in the market, but given the recent action, it is worth updating now. We consider "all or nothing days" in the market to be days where the net daily A/D reading in the S&P 500 exceeds plus (all) or minus (nothing) 400.
As shown in the chart below, so far this year there have been eleven all or nothing days for the S&P 500, which works out to an annualized rate of 23 for the year. At that pace, it would be the fewest number of all or nothing days in a given year since 2006. The year to date total of all or nothing days, however, doesn't tell the whole story of occurrences so far in 2013. While there have only been eleven all or nothing days so far this year, more than half of them (6) have occurred in the last three weeks!
If the recent pace keeps up much longer, the market will definitely end up with a lot more by year end.