Market Breadth - one measure
Updated
Thus far in 2022, the overall S&P 500 index has struggled. In weighing the collective evidence of stock market health, we may seek breadth measures or tools to see how the component stocks to this index are individually performing as well. Here, the percentage of 
SPY stocks trading above their 50 day moving average (plotted weekly) is shown to fluctuate widely. Note, however, that it is presently sitting below two important levels -- both the roughly 55%-60% (light grey) zone, and also underneath 45% (dashed black line). Until this breadth measure can inch back towards the "healthy" zone, investors may wish to consider this tool to be voting "risk off".
SPY stocks trading above their 50 day moving average (plotted weekly) is shown to fluctuate widely. Note, however, that it is presently sitting below two important levels -- both the roughly 55%-60% (light grey) zone, and also underneath 45% (dashed black line). Until this breadth measure can inch back towards the "healthy" zone, investors may wish to consider this tool to be voting "risk off".Note
March and May relief rallies have done nothing to reverse this overall trend of distribution.
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