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Moving Average Breadth

US Stocks Watchlist - 22 February 2022

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.
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