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Daily Report : Buyers show overwhelming interest in resolving breadth divergences

Jason Goepfert
2024-12-26
The S&P 500 is holding more than 7% above its 200-day average even as fewer than 60% of its stocks are above their average. This is a rare historical divergence that preceded some peaks but not often enough to be a warning. It's also a positive that in recent sessions, buyers have shown an overwhelming interest in accumulating stocks.
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Headlines

Buyers show overwhelming interest in resolving breadth divergences: The S&P 500 is holding more than 7% above its 200-day average even as fewer than 60% of its stocks are above their average. This is a rare historical divergence that preceded some peaks but not often enough to be a warning. It's also a positive that in recent sessions, buyers have shown an overwhelming interest in accumulating stocks.

Smart / Dumb Money Confidence

Smart Money Confidence: 42% Dumb Money Confidence: 47%

Risk Levels

Stocks Short-Term

Stocks Medium-Term

Bonds

Crude Oil

Gold

Agriculture

Research

Buyers show overwhelming interest in resolving breadth divergences

By Jason Goepfert

BOTTOM LINE
The S&P 500 is holding more than 7% above its 200-day average even as fewer than 60% of its stocks are above their average. This is a rare historical divergence that preceded some peaks but not often enough to be a warning. It's also a positive that in recent sessions, buyers have shown an overwhelming interest in accumulating stocks.

FORECAST / TIMEFRAME
None

Sentiment Risk On / Risk Off Overview

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Indicators at Extremes

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% Showing Pessimism: 9%
Bullish for Stocks
Inverse ETF Volume
SPY Liquidity Premium
NYSE High/Low Ratio
Mutual Fund Flow (no ETFs)
CSFB Fear Barometer
% Showing Optimism: 49%
Bearish for Stocks
% Showing Excess Optimism
Rydex Money Market %
Rydex Ratio
Short-term Optimism Index (Optix)
NYSE Arms Index
NYSE Up Issues Ratio
NYSE Up Volume Ratio
S&P 500 Price Oscillator
ISE Equity Call/Put Ratio
S&P 500 Down Pressure
OEX Open Interest Ratio
AIM (Advisor and Investor Model)
VIX
VIX Term Structure
ISE Call/Put Ratio
SKEW Index
OEX Put/Call Ratio
Retail Money Market Ratio
Equity Hedging Index
ROBO Put/Call Ratio
LOBO Put/Call Ratio
Options Speculation Index
NAAIM Exposure Index
Major Index Combo
AAII Allocation - Stocks
NYSE Available Cash
Equity / Money Market Asset Ratio
Mutual Fund Cash Level

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Sentiment Around The World

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Optimism Index Thumbnails

Sector ETF's - 10-Day Moving Average
Country ETF's - 10-Day Moving Average
Bond ETF's - 10-Day Moving Average
Currency ETF's - 5-Day Moving Average
Commodity ETF's - 5-Day Moving Average
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