Tyler Richey of the Sevens Report highlights a market breadth concern
Tyler Richey of the Sevens Report highlights a market breadth concern and is quoted in MarketWatch
A technical concern suggests upside momentum is fading
Tyler Richey of the Sevens Report highlights a market breadth concern: there are more stocks trading below their 200-day average than their 50-day average.
“In simple terms, a situation where there are more stocks below their 200-day MA than their 50-day is a bearish one as in a healthy market environment, there should consistently be more stocks above their 200-day MAs than 50-day MAs,” Richey says. Another concern is the NYSE advance-decline line declined last week even though the S&P 500 hit record highs.
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