Russell 2000 Index – Members Above 200-Day Moving Average
Russell 2000 Index – Members Above 200-Day Moving Average Are investors too optimistic, as small-cap breadth is reaching overbought levels? Image: Morgan Stanley Wealth Management
Russell 2000 Index – Members Above 200-Day Moving Average Are investors too optimistic, as small-cap breadth is reaching overbought levels? Image: Morgan Stanley Wealth Management
Performance – % of S&P 500 Stocks Outperforming the Benchmark by Year 2020 was a below-average year for market breadth. Stock picking is much easier in a recovery than during a downturn. Image: BofA US Equity & Quant Strategy
S&P 500 – 2020 vs. 2009 This chart suggests that the S&P 500 is following the 2009 pattern and market breadth. Image: Morgan Stanley Research
Secular Bull Market Analogs – 1949-1968 vs. S&P 500 since 2009 This chart compares the secular bull market of 1949-1968 vs. the S&P 500 since 2009. In 1962, the breadth thrust was about the same as today. Image: Fidelity Investments
% of S&P 500 Members Above 200-Day Moving Average This chart shows that breadth across stocks and sectors had been weakening, even though the S&P 500 was climbing to new highs. Image: Deutsche Bank Asset Allocation