Updates, ideas, insights and tips from the ChartMill Team
After a relatively stable start to October, Tuesday's breadth data shows a decisive shift to the downside. Decliners overwhelmed advancers, with significant weakness across multiple breadth indicators. This marks a notable change in tone and resets short-term breadth momentum.
Markets took a breather from the recent AI frenzy. Dell impressed with bold forecasts, Oracle stumbled on margin fears, and one small-cap miner turned into the day’s unlikely superstar.
After last week’s broad advance, Monday’s session showed a mild fade in day-to-day participation while the bigger-picture metrics (new highs vs. lows and % above key MAs) stayed solidly constructive. It looks like digestion rather than deterioration.
Wall Street kicked off the week with a bang as AMD’s blockbuster chip deal with OpenAI sent the Nasdaq soaring to fresh records. Meanwhile, Tesla teased a more affordable Model Y, Palantir recovered from a bruising week, and political gridlock in Washington continued to keep the U.S. government partially shut down.
Mixed session as investors navigate shutdown uncertainty and a cooling economy.
Despite recent volatility, breadth indicators improved slightly on Friday, October 3, continuing a slow recovery from last week’s dip. While short-term metrics show resilience, longer-term momentum remains tentative. The breadth trend shifts up a notch but still calls for cautious interpretation.
On Thursday, October 2nd, U.S. equity market breadth showed modest improvement, continuing a slow recovery from last week’s weakness. However, the advance remains hesitant, and key indicators are not confirming a broad-based bullish shift just yet. The overall trend stays neutral with a slight positive bias, but conviction remains low.
Wall Street closed slightly higher as Tesla stumbled, crypto stocks soared, and AI excitement made its comeback,all while Washington remains paralyzed by a government shutdown.
Market breadth indicators show continued stabilization with a slight improvement compared to the end of September. While participation across moving averages and advancing stocks remains solid, the lack of stronger follow-through signals points to a market that is steady but not yet showing decisive upward momentum.
Stocks shrugged off Washington’s chaos as hopes for Fed rate cuts and strong corporate news kept investors in a buying mood.
After Monday’s solid uptick, Tuesday’s breadth eased but stayed constructive. Daily advancers remained just over 50%, “above-MA” gauges slipped marginally, and the weekly window is still net-negative though improving. Net takeaway: stabilization continues, but momentum flattened.
Markets closed in the green on Tuesday, undeterred by the looming U.S. government shutdown. Pfizer surged nearly 7% on a political deal, while CoreWeave soared after signing a multibillion-dollar AI cloud contract with Meta Platforms.
On Monday, September 29, breadth metrics showed a slight cooling after Friday’s strong recovery, but overall conditions remain balanced. Short-term momentum softened, while longer-term structural strength is still intact, keeping the trend tilted toward neutral with a positive bias.
U.S. markets kicked off the week quietly, but certain stocks were anything but dull. Cannabis names surged after a Trump-endorsed CBD video went viral, while biotech firm MoonLake was crushed by disastrous trial results. Meanwhile, macro tension builds with a potential U.S. government shutdown and Friday’s key jobs report looming.
After Thursday’s sharp deterioration in breadth, Friday delivered a notable rebound across all key indicators. The percentage of advancing stocks surged, and short-term breadth metrics stabilized. However, medium-term participation remains fragile, and confirmation through continued improvement next week is essential to shift the broader bias.
After three days in the red, U.S. markets finally closed higher on Friday, fueled by takeover buzz in gaming, optimism in semiconductors, and continued strength in precious metals.
After a cautious warning sign on Wednesday, Thursday’s breadth numbers confirmed the shift in tone. Decliners overwhelmed advancers, short-term momentum fell back below key thresholds, and new highs nearly vanished. The data now reflects a clear deterioration in market participation.
U.S. markets pulled back on Thursday despite stronger-than-expected economic growth data. While IBM rallied on quantum computing headlines, CarMax tumbled after weak results, and investors worried that a robust economy could slow the Fed’s hand on rate cuts.
After weeks of record highs fueled by AI optimism, U.S. stocks cooled for a second straight day. Oracle’s massive debt raise and divergent moves in chipmakers set the tone, while housing and lithium stole part of the spotlight.
After Tuesday’s modest pullback, Wednesday’s session (Sep 24) brought a clear deterioration in market breadth.
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