Narrowing Breadth

February 5, 2024/Comments Off

We are starting to see that breadth has not been keeping up with the major indexes, and divergences have been forming. This means that fewer stocks are participating in this extended rally, which is a warning sign. Let’s dive in.

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Here is how we have been navigating the $IWM, which had a fake-out pop off H50 early this week. I cautioned that that may not hold and that we need to be prepared for price to move lower, which is did on the FOMC event. pic.twitter.com/DhCJUN6Lsu
— TG Watkins (@TG_ProfitPilot) February 1, 2024

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Narrowing Breadth

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