RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis
S&P500 versus Russell 3000
What you can't see as you do not have the luxury of the zoomed in view, is that the yellow advancing / declining volume line, 2, yellow, has not yet diverged. The Advance Decline Line has not made a higher high, the most recent high was the same height as the previous (near enough). The rest is fairly unhappy. Silver Cross Index 14 is rather indeterminate and although the Gold Cross Index has been declining a long time it is still above 50%.
Another thing you cannt see is that todays price bar, 1, is a hammer, having closed above the October 2020 lows despite testing beneith them.