Weekend update covering the major indexes, market breadth, industry group relative strength tables and the weekend US stocks watchlist...

The overall average remains at extremely low levels, closing the week at 8.56%. In order to move to crypto breadth buy signal, the overall average needs to move out of the lower zone and close above the key 30% level.

Overview the key market breadth charts that we follow in order to determine the Weight of Evidence, which guides our strategy and risk management.

There were 40 stocks for the US stocks watchlist today. Here's a small sample from the list: AMD, BRK/B, CVX, FCX, + 36 more...

Custom Percentage of Stocks Above Their 50 Day, 150 Day & 200 Day Moving Averages Combined Market Breadth Charts for the Overall US Market, NYSE and Nasdaq for Market Timing and Strategy.

The purpose of the RS tables is to track the short, medium and long term RS changes of the individual groups to find the new leadership earlier than the crowd...

Spring / Undercut and Rally moves were the theme of the day as the US stocks markets opened strongly lower with a major weekly Stage 4 breakdown attempt at the open, which was rejected as the day progressed with strong demand pushing the major indexes (i.e. the S&P 500 and Nasdaq) back into their Stage 3 ranges. So it marks a potential Day 1 of Wyckoff Spring attempt in Phase C of the short term base structure that has been forming since the January 24th Selling Climax (SC) began to define the range.

Stage Analysis Members Midweek Video of the Major Indexes, Short Term Market Breadth Charts and a detailed look at the US Stock Watchlist from today.

The major indexes all tested their lower ends of their bases today, the Nasdaq composite closing below the Jan 24th Selling Climax (SC) level, and so there is a possibility that there could be a Spring attempt. But current geopolitical events continue to add volatility into the mix, and so risk of a broad Stage 4 decline continues to increase. Although you could argue from the market breadth data alone that we are already in Stage 4...

The S&P 500 and Nasdaq 100 both pushed down towards their recent lows that were put in on the 24th January on the local Selling Climax (SC) and are currently making a potential Secondary Test (ST) of that low. So how well defended it is will give further clues to the market condition. i.e. do they form a higher low and push back higher in their Stage 3 ranges, or do they undercut and rebound, but form a Sign of Weakness (SOW), or breakdown completely and move into a major Stage 4 decline.