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Market breadth indicators for US stocks have shown a narrowing trend, with the share of S&P 500 members above their 200-day moving average at a low point in 2024. Despite this, all 11 sectors in the S&P 500 are trading above their 200-day averages, indicating overall market strength.
The trend of most stock market indexes remains favorable, but it is essential to keep an eye on the horizon for signs of potential impending trouble. Several breadth and sentiment indicators are currently flashing yellow. https://t.co/OfUevuELce
Sector breadth. "Narrowness of new highs suggests breadth is not the best. But at the same time, we are not seeing a broad breakdown. In fact, all 11 sectors in the S&P 500 are above their 200-day averages. When that is the case, the index is usually doing pretty well https://t.co/YZ4H2AJrS1
Bloomberg on US stocks: "Measures of market breadth have contracted in recent months, with the share of S&P 500 members trading above their 200-day moving average hovering around its lowest in 2024." #economy #markets @markets #stocks #investing #investors https://t.co/XWEbpcuxEH