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

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 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 Composite Breadth Model is bullish at +5, but there are splits when looking at the percentage of stocks above the 200-day SMA for the different indexes and yield spreads. Small-caps are underperforming and the CCC spread shows stress at the low end of the bond market.

The Composite Breadth Model is bullish and at +5, but I would characterize this as a fragile +5. Today’s video will dive into the five inputs that make up the model and show why the +5 looks fragile. SPY and QQQ are in uptrends and continue to lead, but the equal-weight S&P 500 and IWM are in downtrends

The stock market is mixed, very mixed. The tape is bearish because the Composite Breadth Model is negative, but large-caps are holding up because the 5-day SMA for the S&P 500 is above the 200-day SMA. Yield spreads remain elevated and show stress