Stock Market Internals

The stock market continues to rally. Just today the Russell 2000 $IWM made new intraday all time highs. So as we march higher, lets take a look at some of our favorite market breadth indicators for confirmation in this move. Below this chart of the S&P500 $SPY I have displayed NYSE New Highs / New Lows…

The market has been a mess over the past few months. We’ve chopped around in micro ranges, and moved sideways with a slight downward bias ever since we made new all time highs in the $SPY back in August. One indicator that has identified oversold bounce levels over this period is the McClellan Oscillator.