Weekly Market Breadth Report — April 17, 2026
Corrected 18 August 2026. This post was produced by an earlier breadth/regime engine later found to contain calculation errors. In this post: advance/decline figures were computed from a contaminated series and have been recomputed from the corrected data; forward-return claims that rested on a backtest of the same faulty series have been dropped; 2 charts plotted from the old engine have been removed; the 'what happened' scorecard on the previous week's takeaways has been dropped. Price data, signal counts, ETF tables and index moves are unaffected.
This report is AI-generated from Chartlas's market data and breadth analytics. It is not human-written market commentary and does not constitute investment advice.
Market Overview
S&P 500 rallied this week (+4.5%) to 7,126. MSCI World (ACWI) gained +4.0% to 151. Momentum (4/6) and trend (4/6) are both in the mid-range. Best performer: NASDAQ Composite (+6.8%). Weakest: FTSE 100 (+0.6%).
| Metric | This Week | Last Week | 1Y Avg | Z (1Y) |
|---|---|---|---|---|
| Bullish Signal % | 65.2% | 66.8% | 55.9% | +1.3 |
| Bullish Signals | 132,789 | 119,562 | ||
| Bearish Signals | 70,936 | 59,482 |
This week's net balance skews bullish relative to the 1-year norm (z=+1.3).
Key Takeaways
- 🟡 S&P 500: Rallied +4.5% to 7,126, but breadth is not fully confirming. Price is moving up while internals remain mixed.
- 🟢 MSCI World (ACWI): Gained +4.0%, tracking US markets. The rally is global.
- 🟡 Breadth: Momentum (4/6) and trend (4/6) are both in the mid-range. No strong directional signal from breadth.
- 🟢 Breadth — Failed Pattern: At an extreme reading (z=+1.9). Uncommon strength suggesting real conviction.
- 🟢 Dow Jones: A 90% Day signal fired this week (bullish).
Stocks with the Most Signals
Large-cap stocks ($10B+) with 5+ signals fired this week.
| Symbol | Name | Sector | Signals | Net | 1W % |
|---|---|---|---|---|---|
| UI | Ubiquiti Inc. | Technology | 29 | +27 | +17% |
| 2327.TW | Yageo Corporation | Technology | 29 | +21 | +11% |
| RVMD | Revolution Medicines, Inc. | Healthcare | 28 | +24 | +54% |
| RBI.VI | Raiffeisen Bank International | Financial Services | 27 | +21 | +6% |
| CAR | Avis Budget Group, Inc. | Industrials | 27 | +21 | +65% |
| 300750.SZ | Contemporary Amperex Technolog | Industrials | 26 | +14 | +7% |
| 009155.KS | Samsung Electro-Mechanics Co., | Technology | 26 | +24 | +28% |
| GRMN | Garmin Ltd. | Technology | 25 | +19 | +4% |
Momentum Breadth
Short-term oscillators and price velocity indicators.
| Index | This Week | Last Week | Change | Z (1Y) | Trend |
|---|---|---|---|---|---|
| Advance / Decline | +20,139 | +21,086 | -947 | +1.5 | Stable |
| New 20D High/Low | +16,981 | +8,081 | +8,900 | +1.8 | Strengthening |
| MACD Breadth | +1,402 | +6,490 | -5,088 | +0.4 | Deteriorating |
| RSI Extremes | -863 | +299 | -1,162 | -0.0 | Flipped bearish |
| Bollinger Band | -5,233 | -2,592 | -2,641 | -1.2 | Weakening |
| Weekly Movers (±10%) | +14,534 | +9,552 | +4,982 | +1.8 | Strengthening |
New 20D High/Low weekly net (bars) with S&P 500 price (right axis). 1Y z-score: +1.8.
Trend Breadth
Longer-term structural indicators.
| Index | This Week | Last Week | Change | Z (1Y) | Trend |
|---|---|---|---|---|---|
| 52-Week High/Low | +4,272 | +2,402 | +1,870 | +0.5 | Strengthening |
| Fresh 52W High/Low | +1,012 | +691 | +321 | +0.8 | Strengthening |
| 200 DMA Breadth | +8,305 | -751 | +9,056 | -0.6 | Flipped bullish |
| MA Cross (Golden/Death) | -310 | -368 | +58 | -1.2 | Improving |
| HH/HL Structure | -462 | -647 | +185 | -0.7 | Improving |
| Breakout / Breakdown | +1,387 | +667 | +720 | +0.5 | Strengthening |
MA Cross (Golden/Death) weekly net (bars) with S&P 500 price (right axis). 1Y z-score: -1.2.
Pattern Breadth
| Index | This Week | Last Week | Change | Z (1Y) | Trend |
|---|---|---|---|---|---|
| Double Top/Bottom | +381 | +204 | +177 | +0.6 | Strengthening |
| Failed Pattern | +502 | +623 | -121 | +1.9 | Deteriorating |
Major ETF Signals
| Ticker | Name | Momentum | Trend | Pattern | Net | Z (1Y) |
|---|---|---|---|---|---|---|
| SPY | S&P 500 | 10↑ 2↓ | 9↑ | — | +17 | +2.9 |
| QQQ | NASDAQ 100 | 10↑ 1↓ | 9↑ | — | +18 | +3.1 |
| IWM | Russell 2000 | 10↑ 2↓ | 5↑ | — | +13 | +2.5 |
| EEM | Emerging Markets | 10↑ 2↓ | 1↑ | — | +9 | +1.2 |
| HYG | High Yield Corp | 4↑ 1↓ | 1↓ | — | +2 | +0.3 |
| EFA | EAFE (Dev ex-US) | 4↑ 1↓ | — | — | +3 | +0.1 |
| DIA | Dow Jones | 4↑ 1↓ | — | — | +3 | +0.4 |
| TLT | 20+ Year Treasury | 1↓ | 2↑ 1↓ | — | +0 | -0.1 |
| USO | Oil (USO) | 1↓ | 1↑ 2↓ | — | -2 | -1.0 |
| IBIT | Bitcoin | 2↑ 1↓ | — | — | +1 | +0.1 |
| EWJ | Japan | 2↑ 1↓ | — | — | +1 | -0.2 |
| GLD | Gold | 2↑ 1↓ | — | — | +1 | -0.2 |
QQQ weekly net signals (bars) with QQQ price (blue line, right axis). 1Y z-score: +3.1.
Sector Breadth (Advance/Decline)
| Sector | Net | % Bullish | Z (1Y) |
|---|---|---|---|
| Technology | +5,211 | 65.2% | +2.3 |
| Industrials | +2,765 | 55.9% | +0.9 |
| Financial Services | +2,524 | 60.8% | +1.6 |
| Healthcare | +1,870 | 58.3% | +1.5 |
| Consumer Cyclical | +1,796 | 56.3% | +1.1 |
| Basic Materials | +1,351 | 55.8% | +0.8 |
| Real Estate | +1,269 | 60.3% | +1.6 |
| Communication Services | +1,080 | 62.9% | +2.4 |
| Consumer Defensive | +358 | 52.6% | +0.6 |
| Utilities | +2 | 50.0% | -0.2 |
| Energy | -258 | 45.8% | -1.0 |
What to Watch Next Week
- HH/HL Structure at -462. Improving but still negative.
- Advance / Decline leading at +20,139. Watch for continuation vs exhaustion.
- RSI Extremes just flipped — need follow-through to confirm.
Last Week We Said
From our report on April 10:
- 🟡 S&P 500: Rallied +3.6% to 6,817, but breadth is not fully confirming. Price is moving up while internals remain mixed.
- 🟢 MSCI World (ACWI): Gained +4.0%, tracking US markets. The rally is global.
- 🟢 Breadth: Momentum is strong (5/6) with trend in the mid-range (3/6). Broad short-term participation while the structural picture is still mixed. Need trend confirmation for a sustained move. Trend is recovering.
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