FYI: While buyers have been quick to step in on any weakness in the last several days, it is beginning to look more and more like they have headed out early to the beach this Friday. The S&P 500 is down nearly 80 basis points (bps) on the day, which doesn’t sound like a whole lot, but breadth has been abysmal. The S&P 500’s net Advance/Decline reading on the day is -413, meaning that there are 413 more stocks that are down today than up. That’s the weakest single day breadth reading for the S&P 500 since January 13th!
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/weakest-breadth-since-january/
