One thing we know about markets is that breadth thrusts tend to cluster together near the beginning of new bull markets.
Breadth thrusts are NOT signs of exhaustion. They are evidence of new trends emerging.
Now, after a few days of strength in stocks and crypto, investors are wondering: Was that a thrust?
Well, almost. But it’s not quite there yet.
Here’s one that’s close. We’re looking at the % of stocks in the S&P500 making new 20 day highs.
We saw over 40% of stocks hit new 20 day highs this week. We’re looking for 55% to categorize this one as a true breadth thrust: [Read more…]