
The S&P 500 has experienced an unprecedented streak of negative market breadth, with more stocks declining than advancing for 14 consecutive trading days, marking the longest such streak in history. This period of negative breadth is the second longest in the last century, only surpassed by a streak in 1978. The S&P 500's equal weight ETF ($RSP) has also seen a record 14 days of closing beneath its opening price, with its RSI reaching the most oversold level since March 2020. The NYSE Composite Index ($NYA) has hit its most oversold reading since the early 2000s, with the 5 period RSI at a staggering 2.86, and the McClellan Oscillator ($NYMO) dropping to -106, indicating extreme short-term oversold conditions. Additionally, value stocks have been declining for 14 straight sessions, with their performance relative to growth stocks reaching levels not seen since the 2000 Dot-Com Bubble. The NYSE was as oversold as during the Covid crash, and the summation index fell below 0. The $NYMO also recorded 2 consecutive days below the Bollinger Bands. This widespread selling pressure has led to fears of a broader market downturn, with over 60% of S&P 500 components in correction territory, and 62% making new 21-day lows. The last positive breadth day for the S&P 500 was in November, and the Fear & Greed Index is nearing extreme fear levels despite only a 3% drop in the index.





































S&P 500 equal weight ETF has closed beneath the open a record 14 days in a row and counting. Previous record was 12 in December 2018. https://t.co/H7lMrXQ5fL
Value ETF (IWD) down a record 14 days in a row. https://t.co/Xu1vqCdTEU
S&P500(グロース株)保有の投資家が、米国高配当株(バリュー株)を併せ持つ理由がここにある。バリュー株は現在グロース株に対してITバブル以来、最も割安な水準。この比率は2008年金融危機以来半分以下。バリュー株はグロース株に対して過去40年で最も低い相対パフォーマンスであり割安水準にある。 https://t.co/0jDdiIaqe6