The RSP/SPY ratio — the equal-weighted S&P relative to the cap-weighted index.
How to read Rising = broad participation; falling = narrow mega-cap (Mag-7) leadership carrying the index.
The share of S&P 500 constituents trading above their 200-day moving average.
How to read >70% = strong breadth, <30% = weak; a divergence from the index warns of trend exhaustion.
Cumulative advance/decline line across the 11 S&P 500 sector ETFs, overlaid on the S&P 500.
How to read A rising A/D confirms the trend; a falling A/D under a rising index flags narrowing participation.
NYSE breadth momentum (the McClellan Oscillator) plus its running total (the Summation Index).
How to read Two gauges of participation. The Oscillator (left axis) is the fast one — above zero advancers are outpacing decliners (breadth broadening), below zero the reverse; sharp spikes flag thrusts and washouts. The Summation Index (right axis) is its running total — the slow regime line: rising = a broadening, healthy advance, falling = participation narrowing. The classic warning is the index making new highs while the Summation rolls over — fewer and fewer stocks carrying the tape.
Descriptive: NYSE-composite breadth includes non-operating issues (closed-end funds, etc.); a technician's gauge, not a fundamental one.