Weekly Market Breadth Report — July 17, 2026
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 fell this week (-1.6%) to 7,458. MSCI World (ACWI) lost -1.7% to 155. Both momentum (0/6) and trend (1/6) are weak. Broad weakness across timeframes — slightly above-average forward returns from mean-reversion. Best performer: Hang Seng (+1.6%). Weakest: Nikkei 225 (-6.4%).
| Metric | This Week | Last Week | 1Y Avg | Z (1Y) |
|---|---|---|---|---|
| Bullish Signal % | 44.3% | 45.0% | 53.4% | -1.2 |
| Bullish Signals | 84,954 | 102,125 | ||
| Bearish Signals | 106,628 | 124,720 |
This week's net balance skews bearish relative to the 1-year norm (z=-1.2).
S&P 500 price with regime signal markers. Green triangles = bullish signals, red triangles = bearish signals.
Key Takeaways
- 🔴 S&P 500: Fell -1.6% to 7,458. Both momentum and trend breadth are weak — broad weakness across timeframes.
- 🔴 MSCI World (ACWI): Lost -1.7% — selling pressure is global.
- 🔴 Breadth: Both momentum (0/6) and trend (1/6) are weak. Broad weakness across timeframes — slightly above-average forward returns from mean-reversion.
- 🔴 Breadth — Weekly Movers (±10%): At an extreme reading (z=-2.0). Uncommon weakness — could mark a washout or further downside.
- 🟡 S&P 500: McClellan Oscillator crossed below zero — breadth momentum shifted from positive to negative.
- 🟢 S&P 500: McClellan Oscillator crossed above zero — breadth momentum shifted from negative to positive.
Stocks with the Most Signals
Large-cap stocks ($10B+) with 5+ signals fired this week.
| Symbol | Name | Sector | Signals | Net | 1W % |
|---|---|---|---|---|---|
| 6505.TW | Formosa Petrochemical Corporat | Energy | 21 | +21 | +38% |
| 7453.T | Ryohin Keikaku Co., Ltd. | Consumer Cyclical | 19 | +7 | +18% |
| 6488.TWO | GlobalWafers Co., Ltd. | Technology | 19 | +7 | -8% |
| G07.SI | Great Eastern Holdings Limited | Financial Services | 18 | +14 | +12% |
| DINO | HF Sinclair Corporation | Energy | 18 | +14 | +14% |
| 600436.SS | Zhangzhou Pientzehuang Pharmac | Healthcare | 18 | +18 | +25% |
| TORNTPHARM.NS | Torrent Pharmaceuticals Limite | Healthcare | 18 | +6 | -3% |
| IBM | International Business Machine | Technology | 17 | -13 | -26% |
Momentum Breadth
Short-term oscillators and price velocity indicators.
| Index | This Week | Last Week | Change | Z (1Y) | Trend |
|---|---|---|---|---|---|
| Advance / Decline | -5,428 | -9,902 | +4,474 | -0.3 | Improving |
| New 20D High/Low | -5,979 | -2,201 | -3,778 | -0.9 | Weakening |
| MACD Breadth | -1,281 | -1,124 | -157 | -0.5 | Weakening |
| RSI Extremes | -317 | -560 | +243 | +0.3 | Improving |
| Bollinger Band | -1,287 | -2,278 | +991 | -0.1 | Improving |
| Weekly Movers (±10%) | -6,399 | -2,430 | -3,969 | -2.0 | Weakening |
Weekly Movers (±10%) weekly net (bars) with S&P 500 price (right axis). 1Y z-score: -2.0.
Trend Breadth
Longer-term structural indicators.
| Index | This Week | Last Week | Change | Z (1Y) | Trend |
|---|---|---|---|---|---|
| 52-Week High/Low | -1,694 | -883 | -811 | -1.4 | Weakening |
| Fresh 52W High/Low | -338 | -315 | -23 | -1.5 | Stable |
| 200 DMA Breadth | -18,555 | -15,928 | -2,627 | -2.0 | Weakening |
| MA Cross (Golden/Death) | -219 | -199 | -20 | -0.8 | Weakening |
| HH/HL Structure | -203 | +16 | -219 | -1.0 | Flipped bearish |
| Breakout / Breakdown | +514 | +505 | +9 | -0.5 | Stable |
200 DMA Breadth weekly net (bars) with S&P 500 price (right axis). 1Y z-score: -2.0.
Pattern Breadth
| Index | This Week | Last Week | Change | Z (1Y) | Trend |
|---|---|---|---|---|---|
| Double Top/Bottom | -400 | -101 | -299 | -1.3 | Weakening |
| Failed Pattern | -15 | +59 | -74 | +0.1 | Flipped bearish |
Major ETF Signals
| Ticker | Name | Momentum | Trend | Pattern | Net | Z (1Y) |
|---|---|---|---|---|---|---|
| USO | Oil (USO) | 5↑ 2↓ | 2↑ | — | +5 | +0.8 |
| SPY | S&P 500 | 1↑ 6↓ | 1↓ | — | -6 | -1.9 |
| EFA | EAFE (Dev ex-US) | 1↑ 2↓ | 1↑ 3↓ | — | -3 | -1.0 |
| HYG | High Yield Corp | 4↑ 2↓ | 1↓ | — | +1 | +0.1 |
| EEM | Emerging Markets | 3↑ 2↓ | — | — | +1 | -0.3 |
| EWJ | Japan | 1↑ | 1↑ 3↓ | — | -1 | -0.7 |
| TLT | 20+ Year Treasury | 2↑ 1↓ | — | — | +1 | +0.2 |
| GLD | Gold | 3↑ | — | — | +3 | +0.1 |
| IWM | Russell 2000 | — | 1↑ 1↓ | — | +0 | -0.5 |
| IBIT | Bitcoin | 2↓ | — | — | -2 | -0.3 |
| QQQ | NASDAQ 100 | — | 1↓ | — | -1 | -0.8 |
| DIA | Dow Jones | — | 1↓ | — | -1 | -0.6 |
SPY weekly net signals (bars) with SPY price (blue line, right axis). 1Y z-score: -1.9.
Sector Breadth (Advance/Decline)
| Sector | Net | % Bullish | Z (1Y) |
|---|---|---|---|
| Real Estate | +278 | 52.9% | +0.5 |
| Consumer Defensive | +231 | 52.1% | +0.6 |
| Financial Services | +171 | 50.9% | +0.0 |
| Consumer Cyclical | +78 | 50.3% | +0.2 |
| Healthcare | +74 | 50.4% | +0.4 |
| Utilities | +35 | 50.8% | +0.2 |
| Energy | +14 | 50.3% | +0.0 |
| Communication Services | -52 | 49.2% | +0.2 |
| Basic Materials | -1,004 | 44.5% | -0.6 |
| Industrials | -1,477 | 46.0% | -0.4 |
| Technology | -2,968 | 39.0% | -1.3 |
Technology sector weekly A/D net with S&P 500 price (right axis). 1Y z-score: -1.3.
What to Watch Next Week
- 200 DMA Breadth at -18,555. Continuing to weaken.
- HH/HL Structure just flipped — need follow-through to confirm.
Last Week We Said
From our report on July 10:
- 🟡 S&P 500: Rallied +1.2% to 7,575, but breadth is not fully confirming. Price is moving up while internals remain mixed.
- 🟡 Breadth: Momentum is weak (0/6) while trend is in the mid-range (2/6). Short-term selling pressure within a mixed structural backdrop — below-average forward returns. Momentum just weakened — a fresh deterioration in short-term indicators.
- 🔴 Breadth — 200 DMA Breadth: At an extreme reading (z=-1.9). Uncommon weakness — could mark a washout or further downside.
What happened: S&P 500 fell -1.6% this week. The cautionary signals proved prescient.
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