.SPX: What's Going on Next?

$S&P 500(.SPX)$ thoughts: Week over week market breadth continues to get worse. Throughout all of last week, more stocks made new lows than new highs.

I frequently post about breadth, however in my analysis there is three criteria that determine a risk-off environment. Breadth as a stand-alone measure is insufficient.

1. Price below the short term trend

2. Negative breadth, represented by Net New Highs across NYSE and Nasdaq markets (middle panel)

3. Negative Momentum, using the Percentage Price Oscillator (lower panel)

When all three trigger, the market shifts to a risk off environment making a decline the next most probable move.

Ending last week (and the two weeks before) only 1 of 3 criteria remain active. Similar to the post at the beginning of the month, it remains premature to take a bearish stance.

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Macro Trend

Monetary policy, various types of price indices... Here is everything about the macro economy!

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Negative breadth, represented by Net New Highs across NYSE and Nasdaq markets (middle panel)3. Negative Momentum, using the Percentage Price Oscillator (lower panel)When all three trigger, the market shifts to a risk off environment making a decline the next most probable move. Ending last week (and the two weeks before) only 1 of 3 criteria remain active. Similar to the post at the beginning of the month, it remains premature to take a bearish stance.<img src=\"https://community-static.tradeup.com/news/a7965f4ca3c0ee381253fa469bc532db\" tg-width=\"900\" tg-height=\"561\">Follow me to learn more about analysis!!https://x.com/tomthetrader1</body></html>","htmlText":"<html><head></head><body> <a data-mention-id=\".SPX\" class=\"teditor-mention\" data-mention-name=\"S&amp;P 500\" href=\"https://ttm.financial/S/.SPX\">$S&amp;P 500(.SPX)$</a> thoughts: Week over week market breadth continues to get worse. Throughout all of last week, more stocks made new lows than new highs. I frequently post about breadth, however in my analysis there is three criteria that determine a risk-off environment. Breadth as a stand-alone measure is insufficient.1. Price below the short term trend2. Negative breadth, represented by Net New Highs across NYSE and Nasdaq markets (middle panel)3. Negative Momentum, using the Percentage Price Oscillator (lower panel)When all three trigger, the market shifts to a risk off environment making a decline the next most probable move. Ending last week (and the two weeks before) only 1 of 3 criteria remain active. Similar to the post at the beginning of the month, it remains premature to take a bearish stance.<img src=\"https://community-static.tradeup.com/news/a7965f4ca3c0ee381253fa469bc532db\" tg-width=\"900\" tg-height=\"561\">Follow me to learn more about analysis!!https://x.com/tomthetrader1</body></html>","text":"$S&P 500(.SPX)$ thoughts: Week over week market breadth continues to get worse. Throughout all of last week, more stocks made new lows than new highs. I frequently post about breadth, however in my analysis there is three criteria that determine a risk-off environment. Breadth as a stand-alone measure is insufficient. 1. Price below the short term trend 2. Negative breadth, represented by Net New Highs across NYSE and Nasdaq markets (middle panel) 3. Negative Momentum, using the Percentage Price Oscillator (lower panel) When all three trigger, the market shifts to a risk off environment making a decline the next most probable move. Ending last week (and the two weeks before) only 1 of 3 criteria remain active. Similar to the post at the beginning of the month, it remains premature to take a bearish stance. 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