News Formal

Market Breadth has Weakened: Implications for S&P 500 & Nasdaq

  • 📰 DailyFX
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 63%

Brasil Notícia Notícia

Market breadth in US indices has weakened recently, with some indicators around multi-month lows. From a contrarian perspective, it could reflect oversold conditions, pointing to a minor rebound ahead of the US earnings season.

As of Friday, around 18% of the members in the S&P 500 index were above their respective 20-day moving average . Data from 1996 onwards suggests that when 17%-20% of the members were above their respective 20 DMAs, the index was up 67% of the time over the subsequent 30 days. That is, in such instances, 67% of the time the index returns have been positive over the subsequent one-month period based on historical performance .

Distribution plot of S&P 500 index returns when 21%-24% of members are below their respective Lower Bollinger BandFurthermore, as of Friday, 17% of the members in the S&P 500 index had the 14-day Relative Strength Index below 30. Data from 1996 onwards suggests that when 15%-18% of the members had their 14-day RSI below 30, the index was up 68% of the time over the subsequent 30 days.

 

Obrigado pelo seu comentário. Seu comentário será publicado após ser revisado.
Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

 /  🏆 305. in BR

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Housing market fears rise for two most overvalued areas in USThe states at the highest risk of suffering extreme weather events have some of the most overvalued housing markets in the country.
Fonte: Newsweek - 🏆 468. / 52 Consulte Mais informação »

Singer Paul Anka's Southern California country club estate on market for $10 millionPaul Anka has listed his Thousand Oaks estate inside the exclusive Sherwood Country Club for $10 million. The home has an infinity pool and a recording studio.
Fonte: FoxBusiness - 🏆 458. / 53 Consulte Mais informação »

The IPO Market Is Open Again—at Least for the MomentArm, Instacart and Klaviyo all popped on their first day of trading, but their performance since then has been more muted.
Fonte: WSJ - 🏆 98. / 63 Consulte Mais informação »