Weekly Market Breadth Report — May 01, 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; 3 regime-signal takeaways described events the corrected data does not contain and have been removed; one 'extreme reading' takeaway no longer clears the threshold on the corrected data and was removed; 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 (+1.4%) to 7,265. MSCI World (ACWI) gained +1.3% to 152. Momentum (3/6) and trend (5/6) breadth are both positive — constructive backdrop across timeframes. Best performer: Dow Jones (+1.5%). Weakest: Hang Seng (-0.8%).
| Metric | This Week | Last Week | 1Y Avg | Z (1Y) |
|---|---|---|---|---|
| Bullish Signal % | 50.4% | 43.6% | 54.4% | -0.5 |
| Bullish Signals | 88,816 | 90,029 | ||
| Bearish Signals | 87,510 | 116,453 |
Signal balance is near its 1-year norm — nothing unusual this week.
Key Takeaways
- 🟢 S&P 500: Rallied +1.4% to 7,265. Both momentum and trend breadth are positive — the rally has broad participation.
- 🟢 MSCI World (ACWI): Gained +1.3%, tracking US markets. The rally is global.
- 🟡 Breadth: Momentum is mid-range (3/6) while trend is strong (5/6). The structural move may already be priced in.
Stocks with the Most Signals
Large-cap stocks ($10B+) with 5+ signals fired this week.
| Symbol | Name | Sector | Signals | Net | 1W % |
|---|---|---|---|---|---|
| NOK | Nokia | Communication Services | 24 | +22 | +29% |
| ALA.TO | AltaGas Ltd. | Energy | 23 | +17 | +5% |
| PNR | Pentair plc | Industrials | 23 | -21 | -13% |
| CHTR | Charter Communications, Inc. | Communication Services | 23 | -17 | -5% |
| NXPI | NXP Semiconductors N.V. | Technology | 23 | +13 | +21% |
| RMD | ResMed Inc. | Healthcare | 22 | -10 | -7% |
| 6861.T | Keyence Corporation | Technology | 22 | +16 | +21% |
| GOOG | Alphabet Inc. | Communication Services | 21 | +17 | +12% |
Momentum Breadth
Short-term oscillators and price velocity indicators.
| Index | This Week | Last Week | Change | Z (1Y) | Trend |
|---|---|---|---|---|---|
| Advance / Decline | -1,089 | -18,708 | +17,619 | -0.1 | Improving |
| New 20D High/Low | +1,230 | +6,084 | -4,854 | -0.2 | Deteriorating |
| MACD Breadth | -3,846 | -3,582 | -264 | -1.3 | Stable |
| RSI Extremes | -986 | -2,479 | +1,493 | -0.1 | Improving |
| Bollinger Band | +172 | -5,117 | +5,289 | +0.3 | Flipped bullish |
| Weekly Movers (±10%) | +127 | +6,412 | -6,285 | -0.4 | Deteriorating |
MACD Breadth weekly net (bars) with S&P 500 price (right axis). 1Y z-score: -1.3.
Trend Breadth
Longer-term structural indicators.
| Index | This Week | Last Week | Change | Z (1Y) | Trend |
|---|---|---|---|---|---|
| 52-Week High/Low | +1,440 | +2,974 | -1,534 | -0.4 | Deteriorating |
| Fresh 52W High/Low | +145 | +340 | -195 | -0.4 | Deteriorating |
| 200 DMA Breadth | +4,444 | +7,711 | -3,267 | -0.8 | Deteriorating |
| MA Cross (Golden/Death) | -250 | -234 | -16 | -0.9 | Stable |
| HH/HL Structure | +101 | -276 | +377 | -0.1 | Flipped bullish |
| Breakout / Breakdown | +473 | +764 | -291 | -0.7 | Deteriorating |
MA Cross (Golden/Death) weekly net (bars) with S&P 500 price (right axis). 1Y z-score: -0.9.
Pattern Breadth
| Index | This Week | Last Week | Change | Z (1Y) | Trend |
|---|---|---|---|---|---|
| Double Top/Bottom | -14 | +156 | -170 | -0.2 | Flipped bearish |
| Failed Pattern | +17 | +41 | -24 | +0.1 | Deteriorating |
Major ETF Signals
| Ticker | Name | Momentum | Trend | Pattern | Net | Z (1Y) |
|---|---|---|---|---|---|---|
| SPY | S&P 500 | 5↑ 2↓ | 5↑ | — | +8 | +1.1 |
| USO | Oil (USO) | 5↑ 4↓ | 3↑ | — | +4 | +0.9 |
| QQQ | NASDAQ 100 | 3↑ 3↓ | 4↑ | — | +4 | +0.3 |
| TLT | 20+ Year Treasury | 3↑ 5↓ | 2↓ | — | -4 | -1.3 |
| GLD | Gold | 4↑ 1↓ | 2↓ | — | +1 | -0.2 |
| HYG | High Yield Corp | 2↓ | 1↑ 2↓ | — | -3 | -0.9 |
| EFA | EAFE (Dev ex-US) | 1↑ 1↓ | 1↑ 1↓ | — | +0 | -0.5 |
| EEM | Emerging Markets | 1↑ 2↓ | — | — | -1 | -0.7 |
| EWJ | Japan | 1↑ | 1↑ 1↓ | — | +1 | -0.1 |
| IBIT | Bitcoin | 2↓ | — | — | -2 | -0.4 |
| DIA | Dow Jones | 1↑ 1↓ | — | — | +0 | -0.3 |
| IWM | Russell 2000 | 1↓ | — | — | -1 | -0.6 |
TLT weekly net signals (bars) with TLT price (blue line, right axis). 1Y z-score: -1.3.
Sector Breadth (Advance/Decline)
| Sector | Net | % Bullish | Z (1Y) |
|---|---|---|---|
| Energy | +695 | 62.1% | +1.6 |
| Industrials | +305 | 50.8% | +0.1 |
| Financial Services | +292 | 51.4% | +0.0 |
| Basic Materials | +53 | 50.3% | -0.0 |
| Technology | +22 | 50.1% | +0.0 |
| Real Estate | -42 | 49.6% | -0.1 |
| Utilities | -44 | 49.1% | -0.4 |
| Communication Services | -108 | 48.5% | -0.1 |
| Consumer Defensive | -173 | 48.6% | -0.2 |
| Consumer Cyclical | -646 | 47.4% | -0.3 |
| Healthcare | -706 | 46.4% | -0.4 |
What to Watch Next Week
- MA Cross (Golden/Death) at -250. Continuing to weaken.
- New 20D High/Low leading at +1,230. Watch for continuation vs exhaustion.
- Bollinger Band just flipped — need follow-through to confirm.
Last Week We Said
From our report on April 24:
- 🟡 S&P 500: Flat this week at 7,165 (+0.5%).
- 🟡 Breadth: Momentum is weak (2/6) while trend is in the mid-range (4/6). Short-term selling pressure within a mixed structural backdrop. Momentum just weakened — a fresh deterioration in short-term indicators.
Get this report in your inbox every Saturday
Free for all Chartlas users. Plus daily signal alerts, custom screens, PDF exports, and live breadth/regime dashboards.
Create free account →