NYSE Breadth

It's been a long time between updates. I guess the market can do that sometimes.

The SPX continues it's perpetual motion bull market, with the cumulative NYAD still making higher highs.

The BPNYA is still pushing higher as well.

Other breadth indicators have been waning though.

The Russell 2000 has diverged for a couple of weeks now.

My favourite, the NYSI, has also printed a small divergence (which is often just as good as a larger scale indication).

Lastly the NYAD ema20, which looks the same as the NYMO at the moment, has continued it's neg divergence.

This indicator also correctly called the low back in mid August. I went long for one or two days before reversing to short again. Stupid mistake.

So... The odds of a drop are pretty good. How low and for how long is hard to call though. The astrology suggests a relatively deep low around Christmas time, but there could still be yet more divergence before a drop into that low, assuming that it does eventuate.