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Weekly Market Breadth Update

|Includes: DIA, PowerShares QQQ Trust ETF (QQQ), SPY

As of now, we have following long-term Breadth numbers:

79% of the S&P 500 index listed stocks are bullish (9 stocks more than week ago);
86% of the DJI index listed stocks are bullish (1 stocks more than a week ago);
82% of the Nasdaq 100 index listed stocks are bullish (4 stocks less than from a week ago);
72% of the Russell 2000 index listed stocks are bullish (43 stocks less than a week ago);
71% of the NYSE index listed stocks are bullish (1 stocks less than a week ago).

Note: Bullish stocks are stocks traded closer to their 52-week highs.
Source: https://www.marketvolume.com/advance_decline/highlowrangechartsimple.asp

We may clearly see that the long-term market Breadth sentiment is Bullish - we have strong bullish number of stocks moving close to their 52-week highs. At the same time the number of the Bullish stocks weakened over the past week on the Nasdaq 100, Russell 2000 and NYSE Composite indexes. To evaluate whether this weakness may grow into something bigger, we have to take a look at the shorter-term Breadth sentiment.

With respect to the S&P 500 index stocks and various moving averages:

77% of the S&P 500 stocks are moving above their 200-day SMAs,
80% of the S&P 500 stocks are moving above their 120-day SMAs,
76% of the S&P 500 stocks are moving above their 50-day SMAs,
77% of the S&P 500 stocks are moving above their 20-day SMAs.
Source: https://www.marketvolume.com/stockscreener/sp500scan.asp

When it comes to the Nasdaq 100, we have following numbers:

82% of the Nasdaq 100 stocks are moving above their 200-day SMAs,
87% of the Nasdaq 100 stocks are moving above their 120-day SMAs,
88% of the Nasdaq 100 stocks are moving above their 50-day SMAs,
85% of the Nasdaq 100 stocks are moving above their 20-day SMAs.
Source: https://www.marketvolume.com/stockscreener/nasdaq100scan.asp

Here we have strongly bullish numbers on all time-frames. Despite past week's weakening on the Nasdaq 100, this index remains as strongly bullish as the S&P 500. By looking at the Breadth data on the major indexes we are entering the March and Spring season on a very positive note.

Breadth Charts courtesy of https://www.marketvolume.com/advance_decline/



Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.