US indexes are at a fresh high. The bull market is intact. What are breadth charts suggesting?
The above chart shows the % of stocks in SP500 trading above the 200 day moving average. This has also hit a fresh high above 95. This implies that more than 95% of stocks in the SP500 are trading above their respective moving averages. This is certainly a very bullish scenario and very healthy breadth. It is a bit stretched no doubt. But healthy breadth is something that bulls should be happy about. Stay long!