Market Breadth Data******************************

Friday, June 02, 2017

$SPY Waves, Momentum and Trend

Daily market breadth suggests that the sideways/down phase is over, and there's plenty of upside potential left:
















Also, the short-term upswing exceeded the length of the preceding downswing, meaning that we are currently in week 30 of the larger trend which remains up:
















This is the latest leg of the bullish wave pattern which started in 2009:

















From this perspective, we've already exceeded the length (58 weeks) of the first leg of that pattern.

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