Usually, you want a bull market to have breadth but on occasion things get quite over extended and even the weak stocks start to run. This is reflected in the market breadth and when it gets too high, it's time to start preparing for a correction
What I've shown in this video is an indicator to determine market breadth. When breadth reaches the extreme lows (like it did 2 weeks back), massive multi year bottoms have followed. However, this time I think it'll just be a multi week bear market bounce as we are in a long term bear market. TAKEAWAY: SPY could go up to ~430 which would translate to ~17% rally...
In this video, I've shown a means of measuring the current breadth in the market. It's at extreme lows which have historically marked major bottoms for the market. TAKEAWAY Combining this with my cycle analysis, I think a rally is coming over the next 6 weeks