Market Breadth Data******************************

Tuesday, April 23, 2024

SPX Cycles

 Both the Daily and he Weekly cycles bottomed out on Thursday, and the Daily is peaking already:








On average, there are three daily cycles per one weekly cycle.

Daily Market Breadth is getting overbought and overextended:



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Friday, April 19, 2024

SPX and Market Breadth

 While the majority continues to panic, there are emerging signs of hidden accumulation and positive divergence:



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Tuesday, April 16, 2024

SPX Downside Target

 SPX trying to find support at the downside weekly target:




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Saturday, April 13, 2024

SPX Weekly Targets

 The SPX dropped to within 10 points of the downside weekly target and finished the week like it did the week before - oversold market breadth and declining price targets:











The difference is that market breadth declined even further to levels not seen since December '23 and February '24. One can expect a similar reaction and a bounce off of oversold levels.

The next weekly targets are 5050 - 5250, Pivot line at 5150:



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Thursday, April 11, 2024

SPX Pattern and Trend

 During an uptrend, oversold market breadth readings lead to an immediate rebound:










In a downtrend, the picture is different:



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