📈 New Bull Market?

This tells the story of what's happening now.

NYSE Zweig Breadth Thrust

The NYSE Zweig Breadth Thrust gives insight into market momentum.

It calculates a 10-day exponential moving average of stocks advancing versus declining.

When you have an increase in reading from 40% to above 61.5% in the period of a 10-day period, it signals the start of a potential new bull market.

Let’s take a look at what we’re seeing.

Zweig Data

We have seen a sharp increase in this indicator over the past few days.

We don’t quite meet the criteria for a new bull market, but you can see that we moved from below 0.4 to around the 0.6 level in a hurry.

This is a good sign for the market. We want to see the level hold here instead of rolling back over.

Have we had light volume in the market over the past few days? Yes.

Does that invalidate the move we have seen? No.

Is it something to keep an eye on? Yes.

All of these things can be true. Just because we have light volume does not mean that we can’t continue moving higher.

I dive deeper into this indicator and other indicators that give us insight into the market here: