Chart shows SPY (2D) and the percentage of stocks above their 20DMA(aqua) and 200DMA (yellow).
Each series is the mean percentage of 7 index's which, in turn, aggregate several thousand underlying stocks. The 7 indexes: S&P, Dow, Nasdaq, Russell, TSX, NYSE, AMEX
The peaks of the index coincide with market tops (as shown in the chart). Based on this pattern...
