NYSE Breadth Closes in Negative Territory for First Time in Seven Sessions

As of Monday’s close, breadth on the NYSE (advancers – decliners) closed in positive territory five consecutive sessions. In recent years, five straight days of positive breadth has been a sign that buying power is at or near a short-term exhaustion point. In 27 out of the last 30 separate occurrences, or 90% of the time, the S&P posted a lower close 3-6 trading days later, well ahead of the 65% at-any-time odds…

Breadth Positive Five in a Row
08/24/09… ???
07/24/09… Lower S&P close three sessions later
05/04/09… No lower S&P close in 3-6 sessions
03/16/09… No lower S&P close in 3-6 sessions
01/06/09… Lower S&P close three sessions later
11/28/08… Lower S&P close three sessions later
11/03/08… Lower S&P close three sessions later
07/22/08… Lower S&P close three sessions later
05/16/08… Lower S&P close three sessions later
04/04/08… Lower S&P close three sessions later
08/23/07… Lower S&P close three sessions later
07/03/07… Lower S&P close four sessions later
06/01/07… Lower S&P close three sessions later
05/07/07… Lower S&P close three sessions later
04/04/07… Lower S&P close four sessions later
03/23/07… Lower S&P close three sessions later
02/01/07… Lower S&P close six sessions later
01/12/07… Lower S&P close three sessions later
11/16/06… Lower S&P close five sessions later
08/30/06… Lower S&P close four sessions later
08/18/06… Lower S&P close three sessions later
03/16/06… Lower S&P close three sessions later
01/09/06… Lower S&P close four sessions later
12/14/05… Lower S&P close three sessions later
11/23/05… Lower S&P close three sessions later
06/15/05… Lower S&P close six sessions later
06/02/05… Lower S&P close three sessions later
02/16/05… Lower S&P close three sessions later
12/14/04… Lower S&P close three sessions later
11/15/04… Lower S&P close four sessions later
10/29/04… No lower S&P close in 3-6 sessions

Categories : Archived EOD Commentary, End-of-Day Commentary

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