This is the percentage of stocks trading above their 50-day moving averages – a sign of medium-term direction.
Right now, about 52% of stocks are trading above their 50-day average – while the market has broken out to a new all-time high.
As you can see, during other periods this year when the market was moving up – this percentage has been well over 60%.
The bears would say this means the market breadth is weak underneath the surface.
I say it means breadth has lots of room to increase…
Which means individual stocks have plenty of breakouts left in them.
Remember, in any market, stocks don’t move at the same time.
The leaders move first and then the rest catch up.
Right now, with rate cuts looming – we’re seeing the big mega-cap tech stocks move first and pull the entire index up with them.
But the breadth readings tell me that the smaller stocks have yet to catch up.
This is great news…
Because it means we can position ourselves in the most explosive ones before they break out.
That’s why tomorrow, Tuesday October 28, at 11 a.m. Eastern
I’m going LIVE for a special session to walk you through my #1 chart pattern for identifying these explosive setups.
Some of the greatest traders in history swear by this pattern…
And it’s served me (and our members) well for years.
Our most recent trade this pattern spotted is up 53% in just a few weeks…
All while the market has been chopping around sideways and going nowhere.
But with the Fed about to cut yet again – and breadth having so much room to run…
Gains like these could just be the start.
So click here to secure your seat for my live strategy walkthrough tomorrow…
And I’ll see you Tuesday morning at 11 a.m. ET.
Act before the Fed does.
Don’t let yourself miss out on all the explosive opportunities yet to come.
P.S. If you’re planning to attend on a mobile device, make sure you download the presentation app now so you don’t miss anything when it starts. See you there.
iOS: https://apps.apple.com/us/app/goto/id1465614785
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