Tradersnarrative: Breadth Improves But Overall Market Is Tired

" . . . The percentage of S&P 500 index components above their 50 day moving average is acting weak. During a high powered momentum thrust we expect to see this indicator pushed above 85-90% and stay there. And during normal strong rallies this indicator gets pushed to the extreme, to then snap back with the market. But that is far from what is happening now:The recent rally has not been able to