Daily Report : Corporate insiders favor S&P 500 stocks, not Nasdaq 100, as trends diverge; Short-term breadth is as horrid as longer-term is impressive


  • Jason Goepfert

    Jason Goepfert

    Published: 2020-06-11 at 17:32:03 CDT

Corporate insiders in S&P 500 companies greatly picked up their pace of buying as shares fell in March, and they're continuing to buy. In Nasdaq 100 companies, though, insider buying has been tepid. The ratio between insider buys in the S&P 500 versus Nasdaq 100 is now at a decade high. This comes even as the Nasdaq has been above its 20-day average for more than two months, while the S&P has not.; Over a 10-day period, we recently witnessed a historic thrust of positive breadth, with the 10-day Up Volume Ratio reaching near-record highs. The past 3 days, however, have seen overwhelmingly negative breadth. It doesn't completely cancel the longer-term positives, but it makes the shorter-term more of a worry.


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