Breadth – % of Stocks in Nasdaq Above 50-Day Moving Average Is it time to reduce exposure to tech stocks, as the Nasdaq breadth has not matched the rise in the index? Image: Morgan Stanley Research
MSCI ACWI – Global Equities Breadth Global equity market breadth is deteriorating. Is it time to reduce exposure to risk assets? Image: Topdown Charts
Cross-Asset Momentum Indicator (Risk-On Cross Asset Breadth) The cross-asset momentum indicator has turned negative. Image: Deutsche Bank Asset Allocation
S&P 500 Market Breadth – % of Members Above 50-Day Moving Average Market breadth has improved somewhat. 55% of S&P 500 stocks are now trading above their 50-day moving average. Image: Fidelity Investments
S&P 500 Earnings Revisions Breadth Earnings revisions breadth is very strong. But according to Morgan Stanley, the stock market is vulnerable to a 10-15% correction over the next six months. Image: Morgan Stanley Research
S&P 500 Earnings Revisions Breadth vs. S&P 500 YoY Are significant future gains less likely now for the S&P 500? Image: Morgan Stanley Research
Cross Asset Momentum Breadth Risk-on is still strong. Are investors too optimistic? Image: Deutsche Bank Asset Allocation
Market Breadth – Percent of Members Above 200-Day Moving Average Market breadth has improved dramatically. 85% of S&P 500 stocks above the 200-day moving average is historically bullish. Image: Morgan Stanley Weath Management
S&P 500 vs. ISM PMI and S&P 500 Earnings Revisions Breadth Chart suggesting that the S&P 500 is simply following the rebound in both PMIs and earnings revisions breadth. Image: Morgan Stanley Research
S&P 500 Earnings Revisions Breadth vs. Dollar Index (DXY) Chart suggesting the good correlation between S&P 500 earnings revisions and the U.S. dollar. Image: Morgan Stanley Research