SP500 breadth indicates oversold heading to near-term long

Long

Percent of Stocks Above 20-Day Average (INDEX:MMTW)

INDEX:MMTW Percent of Stocks Above 20-Day Average

Trend Analysis Technical Indicators Chart Patterns SPDR S&P 500 ETF (SPY) breadth

trendanalysis indicator chartpattern spy breadth

The MMTW is showing the SPY is now in buy territory from a breadth perspective. In addition, price is heading into overhead resistance and will likely break down again from there, if it doesn't break to the upside.

snapshot

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