The Breadth Narrative

Under the surface of the market we have this beautiful analytical toolbox called “breadth”. With breadth, we as market participants can obtain a great understanding of the environment we are currently in, thus giving us the ability to align scenario expectations for our specific portfolio trades and risk assessments. Those who pay attention to market breadth know that the environment has been atrocious for what we as technicians would call, “a healthy narrative from breadth”. And quite frankly, we haven’t seen a healthy narrative, from a broad approach for quite some time. Yes, there absolutely has been “thrust” style bullish days where we even see some counter trend type moves (ie. mid March) but the overall narrative has been and continues to be one of longer-term deterioration. Read more “The Breadth Narrative” →