In this article, Mr. McClellan looks at a sustaining stock breadth indicator that has been a useful market gauge tool. This indicator has been zooming up at a rapid pace in May 2019, reflecting the chaos traders are feeling in an environment of trade battles with China, increasing impeachment talk, and worries about the inverted yield curve harming the economy. The high reading is indicative of a bottom for prices although, as in November 2018, the bottoming effort associated with such a reading can give way to a further decline, after a rest-break.
You can access the latest report here: McC_053119
