Breadth Concerns Appear Overblown

The consistent message across the breadth and trend indicators we pay the most attention to is that now is not the time to play defense

What: The Bull Market Behavior Checklist is firing on all cylinders as the percentage of ACWI markets above their 50-day average has climbed back above 70%.

So What: The persistently bullish message from the indicators in this checklist is consistent with our cross-asset risk indicator. The market remains in a Risk On environment.

Now What: The market will let you know when it is time to get defensive. The consistent message across the breadth and trend indicators we pay the most attention to is that now is not that time.

If you are looking for the market to move lower right now, you are doing more guessing (or anticipating) than listening.

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