Tuesday Update: We now need 2524 cumulative net advances to eliminate the current breadth divergence; 721 more than yesterday. https://t.co/GbI0PB7px7
(https://x.com/Walter...1220934670?s=03)
The Real Norseman1 (@Norseman1) posted at 6:26 AM on Wed, Jul 10, 2024:
Investors Intelligence: Week Ending 7/9/24
Bulls 62.70%
Bears 17.90%
This is the 5th straight week above 60%. I look at the extreme, duration of the extreme, along w/ basket of data into the extreme and it tells me local price top even within a Bull Market.
(https://x.com/Norsem...1874551017?s=03)SentimenTrader (@sentimentrader) posted at 9:00 AM on Tue, Jul 09, 2024:
Participation on the NYSE has been so weak that the maximum McClellan Oscillator over the past month had barely been positive. These persistently weak readings pushed the Summation Index to around 100.
That's about the same level it was at in April when the S&P was about 500 https://t.co/pTn5vgepM4
(https://x.com/sentim...9545688279?s=03)Liz Ann Sonders (@LizAnnSonders) posted at 6:05 AM on Tue, Jul 09, 2024:
10 largest names in S&P 500 now account for nearly 37% of the index in terms of market cap highest concentration since 1972 per @NDR_Research https://t.co/xbkw67KKmo
(https://x.com/LizAnn...2172741105?s=03)Global Markets Investor (@GlobalMktObserv) posted at 3:30 PM on Tue, Jul 09, 2024:
THIS HAS NEVER BEEN SEEN BEFORE:
3-month correlation between S&P 500 returns and the number of S&P 500 stocks advancing dropped to the LOWEST on record.
It means that the number of stocks driving gains is the smallest EVER.
Notably, 40% of S&P 500 stocks are down year-to-date. https://t.co/JS8BxUzcALBespoke (@bespokeinvest) posted at 7:40 AM on Tue, Jul 09, 2024:
The six-month performance spread between the S&P 500 and S&P 500 Equalweight index has only been higher than it is now during a small number of days in March 2000. https://t.co/EoZgtMWMuJ