Market Monitor Trends (SPY, QQQ, IWM) and Breadth May 15
By Kristoff De Turck - reviewed by Aldwin Keppens
Last update: May 15, 2025
(All data & visualisations by ChartMill.com)
Daily Market Trend Analysis – May 14, 2025 (After Market Close)
The overall short-term market trend remains bullish, as all three major index ETFs, SPY, QQQ and IWM, continue to hold above key support levels, despite mixed intraday performances.
The long-term trend remains neutral overall, although QQQ continues to stand out with a positive long-term trend. Both SPY and IWM remain in neutral territory, reflecting the broader market’s hesitance to break decisively into new high ground.
Short Term Trend
- Short-Term Trend: Bullish (no change)
- Support at $560 - $570
- Resistance at $610
- Volume: At average (50)
- Pattern: Inside day
- Short-Term Trend: Bullish (no change)
- Support at $490 - $500
- Resistance at $540
- Volume: At average (50)
- Pattern: Follow-through day
- Short-Term Trend: Bullish (no change)
- Support at $200
- Resistance at $210-215
- Volume: Below average (50)
- Pattern: Down day
Long Term Trend
- Long-Term Trend: Neutral (no change)
- Long-Term Trend: Positive (no change)
- Long-Term Trend: Neutral (no change)
Daily Market Breadth Analysis – May 14, 2025 (After Market Close)
Overall Trend: Momentum Weakening After Strong Run
The market breadth data from May 2 through May 14, 2025, shows that bullish momentum, which was strong in early May, began to wane significantly by mid-month. A short-term pullback is evident as advancing breadth numbers declined sharply over the last two sessions.
Day-to-Day Breadth Breakdown
Strong Breadth Days
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May 2, May 8, May 12 stand out with robust advancing day percentages (78.1%, 65.5%, and 75.4% respectively), supported by strong figures in advancing 4% days (8.2%, 10%, and 20.9%).
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These days also saw high participation above key moving averages (SMA20+, SMA50+, etc.), with May 2 showing 85% of stocks above their 20-day MA — indicative of broad market strength.
Breadth Deterioration Emerging
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May 13 and May 14 marked a clear shift in momentum:
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May 14 had only 32.1% advancing stocks and a very low 2.6% hitting 4% gains.
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65.4% of stocks declined, with nearly 71% of stocks having declined over the past 3 months.
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Decliners significantly outnumbered advancers, and participation across all SMAs weakened.
Weekly and Monthly Trends
Strong Weekly Breadth (Earlier Period)
-Between May 2–9, the Advancing Week percentage remained above 50%, peaking at 71.8% on May 12.
- Monthly Advance Breadth held up well during this stretch, with peaks at 88.6% (May 7) and 86.4% (May 9) — signaling broad strength and follow-through from April’s gains.
Weekly Breadth Rolls Over
- On May 14, the weekly advance rate dipped to 69.2%, down from 74.1% on May 13 and 85.7% earlier, reflecting a slowing pace of upward movement.
Key Technical Levels and Breadth
SMA Participation:
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The percentage of stocks above the 20-day SMA dropped from 85% (May 2) to 72.4% (May 14).
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More notably, stocks above the 200-day SMA declined to 39.1% (May 14) from 30.4% (May 2), showing longer-term strength is lagging behind short-term rallies.
New Highs vs New Lows:
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New Highs (NH) remain very low (around 1.7–3.2%), not confirming strength at index highs.
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New Lows (NL) have stayed relatively muted but ticked up slightly on May 14 to 1.4%, suggesting slight internal deterioration.
Red Flags: 3-Month Breadth Weakness
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Despite short-term rallies, Declining 3-Month Breadth remains high:
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Around 70–73% of stocks are still in a 3-month decline.
- Only 3.4–4.0% of stocks advanced more than 25% in the last 3 months — indicating that leadership is narrow and the broader market is not participating in the upside with conviction.
Conclusion: Fragile Momentum Amid a Pullback
The market experienced broad strength earlier in May, with widespread participation and bullish signals across moving averages and advance/decline metrics.
By May 13–14, breadth deteriorated significantly, with more than 65% of stocks declining and key momentum metrics rolling over.
While some longer-term measures still reflect strength, the short-term internal weakness suggests the market could be due for further consolidation or a deeper pullback, unless leadership broadens again.
- Next to read: Market Monitor News May 15
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IWM Latest News and Analysis
2 days ago - ChartmillMarket Monitor Trends (SPY, QQQ, IWM) and Breadth June 02The indices continue to quote close to their next resistance. While headline indices may show only minor daily fluctuations, the underlying breadth data paints a more fragile picture.
5 days ago - ChartmillMarket Monitor Trends (SPY, QQQ, IWM) and Breadth May 30The data from May 29, 2025, confirms that market breadth has rebounded significantly, with strong participation and improving technical metrics across shorter moving averages.
6 days ago - ChartmillMarket Monitor Trends (SPY, QQQ, IWM) and Breadth May 29The breadth indicators signal a fragile and reactive market environment, prone to sharp swings and lacking sustained leadership. Bullish momentum may struggle to gain lasting traction.
7 days ago - ChartmillMarket Monitor Trends (SPY, QQQ, IWM) and Breadth May 28The May 27 surge in breadth confirms the bullish price action observed across major indices on that day, reinforcing the move’s credibility.
9 days ago - ChartmillMarket Monitor Trends (SPY, QQQ, IWM) and Breadth May 26The latest data show a market that is weakening internally, with fewer stocks supporting any upside and an increasing tilt toward broad-based selling.
12 days ago - ChartmillMarket Monitor Trends (SPY, QQQ, IWM) and Breadth May 23The market is in a cautious phase with waning momentum.
13 days ago - ChartmillMarket Monitor Trends (SPY, QQQ, IWM) and Breadth May 22The broad-based selling on May 21 wasn't a surprise, it was preceded by several days of narrowing breadth.
14 days ago - ChartmillMarket Monitor Trends (SPY, QQQ, IWM) and Breadth May 21While the major indices are holding up, breadth is beginning to diverge and fewer stocks are driving the rally, market participation is waning.
15 days ago - ChartmillMarket Monitor Trends (SPY, QQQ, IWM) and Breadth May 20Markets continued to show resilience at the start of the week, with all major indices maintaining their short-term bullish trends.
16 days ago - ChartmillMarket Monitor Trends (SPY, QQQ, IWM) and Breadth May 19The short-term trend remains bullish across all major indices, supported by strong market breadth and price action.
19 days ago - ChartmillMarket Monitor Trends (SPY, QQQ, IWM) and Breadth May 16Short-term market trends remain bullish as strong breadth and rising moving average participation support the ongoing rally across U.S. indices.
20 days ago - ChartmillMarket Monitor Trends (SPY, QQQ, IWM) and Breadth May 15While some longer-term measures still reflect strength, the short-term internal weakness suggests the market could be due for further consolidation or a deeper pullback, unless leadership broadens again.
