Market Report – Breadth Thrust Triggers, Thrust Model Turns, Seasonal Patterns, Next Big Support for SPY (Premium)

Stocks are in pullback mode right now. We never know which pullback will extend far enough to result in a larger downtrend. Currently, the declines in SPY,QQQ and others look like pullbacks after big advances from May to July. There is, however, concern with recent reversals in retail (XRT) and banking (KRE). I would

Stocks moved into pullback mode the last few weeks. It started with QQQ peaking on July 19th and SPY peaking on July 31st. It is way too early to call these “major” peaks. At present, these are just short-term peaks because both ETFs are

The weight of the evidence remains bullish for stocks. The Composite Breadth Model is positive (since March 31st), yield spreads show no stress and upside participation remains strong. SPY and QQQ remain in short-term

The weight of the evidence remains bullish for stocks. The Composite Breadth Model is positive (since March 31st), yield spreads show no stress and upside participation remains strong. The only short-term negative is actually a long-term positive.

The weight of the evidence remains bullish for stocks. The Composite Breadth Model is positive (since March 31st), yield spreads show no stress and upside participation continues to improve. We are seeing new highs in several tech-related ETFs, the Home Construction ETF and the Industrials SPDR.

The weight of the evidence remains bullish for stocks. The Composite Breadth Model is positive (since March 31st), yield spreads show no stress and upside participation continues to improve. The Retail SPDR is coming to life and the Home Construction ETF continues

The weight of the evidence is bullish because the Composite Breadth Model is positive and the 5-day SMA for the S&P 500 is above the 200-day SMA. We are also seeing some risk-on with Nasdaq 100 stocks, technology and housing leading the market.

High-Low Percent is the percentage of stocks making 52-week highs less the percentage of stocks making 52-week lows. The chart below shows High-Low Percent for the S&P 500, Nasdaq 100, S&P MidCap 400 and S&P SmallCap 600. This indicator turns bullish

High-Low Percent is the percentage of stocks making 52-week highs less the percentage of stocks making 52-week lows. The chart below shows High-Low Percent for the S&P 500, Nasdaq 100, S&P MidCap 400 and S&P SmallCap 600. This indicator turns bullish with a move above 10% and bearish with a move below -10%. The first indicator window

The percentage of stocks above the 200-day SMA increased for the S&P 500 and S&P MidCap 400. $SPX %Above 200-day SMA was below 40% last week and moved to 50%. $MID

Large-cap techs are powering QQQ and the Technology sector, which in turn is powering SPY higher. The situation outside of large-cap tech is different because the S&P 500 EW ETF is actually down for the month. Despite underlying weakness in some breadth

The S&P 500 and SPY exceeded their early February highs with surges last week, but breadth failed to confirm and remains a concern. Namely, we are watching the percentage of stocks above the 200, 50 and 20 day SMAs. Large-cap semis

Even though the Composite Breadth Model is bullish, the market is as split as ever. The Trend Composite is positive for SPY and QQQ, but negative for the S&P 500 EW ETF, S&P MidCap 400 SPDR and Russell 2000 ETF. Within the S&P 500, large-cap techs are leading and keeping SPY afloat. I am wary because

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The Composite Breadth Model is bullish, but there are some serious pockets of weakness within the market. Namely, small-caps, high-beta ETFs and tech-related ETFs. Selling pressure increased on Tuesday and many ETFs broke their early April lows to reverse their upswings

The weight of the evidence is largely bullish for stocks, but it is clearly a tale of two markets. Large-caps and high-quality stocks are holding up better than small-caps and high-beta stocks. We are also seeing money move into defensive groups with leadership coming from healthcare,

The Composite Breadth Model is bullish, but the market is quite split and I am focused on the swings of late. In particular, the upswing since mid March. Large-caps and high-quality

The weight of the evidence remains bullish for stocks. Large-caps are leading with the S&P 500 SPDR nearing its early February high. Small-caps are still lagging because the Russell 2000 ETF remains well below this high. Despite relative