Market Monitor Trends (SPY, QQQ, IWM) and Breadth May 19
By Kristoff De Turck - reviewed by Aldwin Keppens
Last update: May 19, 2025
(All data & visualisations by ChartMill.com)
Daily Market Trend Analysis – May 16, 2025 (After Market Close)
The short-term trend remains bullish across all major indices, supported by strong market breadth and price action.
Short Term Trend
- Short-Term Trend: Bullish (no change)
- Support at $560 - $570
- Resistance at $610
- Volume: At average (50)
- Pattern: Up day
- Short-Term Trend: Bullish (no change)
- Support at $490 - $500
- Resistance at $540
- Volume: At average (50)
- Pattern: Hanging Man Candle
- Short-Term Trend: Bullish (no change)
- Support at $200
- Resistance at $210-215
- Volume: Below average (50)
- Pattern: Up 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 16, 2025 (After Market Close)
May 12 marked a powerful bullish breadth day with 75.4% advancing stocks, of which 20.9% advanced over 4%, indicating strong upward momentum.
The trend continued through May 16, where 68.9% of stocks advanced, far outweighing the 28.2% declining.
The breadth is confirmed by a consistent rise in stocks above key moving averages:
-
SMA(20): 77.8%
-
SMA(50): 71.6%
-
SMA(100): 52.4%
-
SMA(200): 42.9%
Intermediate Trends:
The weekly advance-decline trend shows that advancing stocks have reclaimed control:
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From May 6–9, advancers hovered near 50–60%.
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From May 12 onwards, weekly advancers surged above 70%.
New Highs vs. New Lows (NH/NL):
-
A subtle but steady increase in New Highs (NH) from 1.7% (May 6) to 3.8% (May 16).
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New Lows (NL) remain minimal, dropping to 0.8% on May 16.
Market Interpretation
The market breadth data from May 6 to May 16, 2025, reflects a clear shift toward bullish momentum.
After brief weakness around May 6 and May 14, the majority of stocks have resumed upward movement with strong participation across multiple timeframes. The increasing number of stocks above key moving averages, rising new highs, and solid weekly breadth figures all confirm broad internal market strength.
The rally is not just driven by a few large caps—it is broad-based and gaining momentum, this is a constructive environment for short- to mid-term traders and trend followers.
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IWM Latest News and Analysis
2 days ago - ChartmillMarket Monitor Trends (SPY, QQQ, IWM) and Breadth June 06SPY, QQQ both showing a distribution day after yesterday's session (down on above-average volume near the high).
3 days ago - ChartmillMarket Monitor Trends (SPY, QQQ, IWM) and Breadth June 05Breadth readings remain firm for now, this appears to be a healthy pause, not a reversal.
4 days ago - ChartmillMarket Monitor Trends (SPY, QQQ, IWM) and Breadth June 04Both the QQQ and the SPY broke out above their main resistance levels today.
6 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.
9 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.
10 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.
11 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.
13 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.
16 days ago - ChartmillMarket Monitor Trends (SPY, QQQ, IWM) and Breadth May 23The market is in a cautious phase with waning momentum.
17 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.
18 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.
19 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.
