Chart of the Day: Thrust Hunting Season

JC Parets
July 16, 2022

If you've been following along over the years, you've heard me mention plenty of times that breadth thrusts tend to cluster together early on in market uptrends.

Well, a funny thing happened yesterday - we had our first 9-to-1 up volume day on the NYSE since May.

To quote Willie, "Stringing 2 of these together without an intervening 9-to-1 down day would be a very positive development".

Here's what that looks like:

Back in the summer of 2020 we got a series of breadth thrusts, including up volume days, rate of change readings and expansions in the new highs list.

For me, it's less about which thrusts show up first, or at all, and more about them all showing up clustering together at once.

This is a start.

But we need to see more this week.

Feel free to weigh in. What are you thinking here?

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