Market breadth indicators are tools that measure the participation of individual

stocks in a market's trend or movement. They can help you assess the overall health
and direction of the market by comparing the number of advancing and declining
stocks, the volume of trading activity, and the momentum of price movements.

---Some of the most common market breadth indicators are:

- **Advance-Decline Line (ADL)**: This indicator plots the difference between the
number of advancing and declining stocks in a given market or index. It shows
whether the majority of stocks are moving in the same direction as the market or
diverging from it. A rising ADL indicates a strong and broad market, while a
falling ADL indicates a weak and narrow market.

- **Advance-Decline Ratio (ADR)**: This indicator divides the number of advancing

stocks by the number of declining stocks in a given market or index. It shows the
relative strength of the advancing and declining stocks. A high ADR indicates a
bullish market, while a low ADR indicates a bearish market.

- **New Highs-New Lows (NH-NL)**: This indicator plots the difference between the
number of stocks making new 52-week highs and the number of stocks making new 52-
week lows in a given market or index. It shows the extent of leadership and
momentum in the market. A positive NH-NL indicates a bullish market, while a
negative NH-NL indicates a bearish market.

- **Cumulative Volume Index (CVI)**: This indicator adds the volume of advancing
stocks and subtracts the volume of declining stocks in a given market or index. It
shows the level of trading activity and interest in the market. A rising CVI
indicates a strong and active market, while a falling CVI indicates a weak and
passive market.

- **Relative Strength Index (RSI)**: This indicator measures the speed and
magnitude of price changes in a given market or index. It shows the degree of
overbought or oversold conditions in the market. A high RSI indicates a potential
reversal to the downside, while a low RSI indicates a potential reversal to the
upside.

---Some other market breadth indicators that you can use are:

- **McClellan Oscillator (MCO)**: This indicator subtracts a 39-day exponential

moving average (EMA) of the ADR from a 19-day EMA of the ADR. It shows the short-
term fluctuations and trends in the market. A positive MCO indicates a bullish
market, while a negative MCO indicates a bearish market.

- **McClellan Summation Index (MSI)**: This indicator is the cumulative total of

the MCO values. It shows the long-term trends and cycles in the market. A rising
MSI indicates a bullish market, while a falling MSI indicates a bearish market.

- **Arms Index (TRIN)**: This indicator divides the ADR by the ratio of the volume
of advancing stocks to the volume of declining stocks in a given market or index.
It shows the relationship between price and volume in the market. A low TRIN
indicates a bullish market, while a high TRIN indicates a bearish market.

- **Breadth Thrust (BT)**: This indicator divides the 10-day moving average of the
ADR by the 10-day moving average of the ADR 10 days ago. It shows the intensity and
sustainability of a market move. A BT above 1.5 indicates a strong and lasting
market rally, while a BT below 0.5 indicates a strong and lasting market decline.

----Some of the underrated or underused breadth indicators that you can try are:
- **Bullish Percent Index (BPI)**: This indicator calculates the percentage of
stocks in a given market or index that are trading above their 50-day moving
average. It shows the level of bullishness or bearishness in the market. A BPI
above 70% indicates an overbought market, while a BPI below 30% indicates an
oversold market.

- **Percentage of Stocks Above a Moving Average (PSA)**: This indicator calculates

the percentage of stocks in a given market or index that are trading above a
certain moving average, such as 20-day, 50-day, or 200-day. It shows the degree of
trend strength and direction in the market. A high PSA indicates a strong and
positive market trend, while a low PSA indicates a weak and negative market trend.

- **Chaikin Money Flow (CMF)**: This indicator measures the amount of money flow
into or out of a given market or index over a specified period of time, such as 20-
day or 21-day. It shows the buying and selling pressure in the market. A positive
CMF indicates a bullish market, while a negative CMF indicates a bearish market.

---There are many other breadth indicators that can assist you with your weekend
study of market conditions, breadth, strength or potential reversal. Here are some
of them:

- **On-Balance Volume (OBV)**: This indicator adds the volume of a given market or
index on days when it closes higher and subtracts the volume on days when it closes
lower. It shows the cumulative flow of money into or out of the market. A rising
OBV indicates a bullish market, while a falling OBV indicates a bearish market.

- **Volume-Weighted Average Price (VWAP)**: This indicator calculates the average

price of a given market or index weighted by the volume traded at each price. It
shows the average price that investors have paid for the market over a specified
period of time, such as one day, one week, or one month. A market trading above its
VWAP indicates a bullish market, while a market trading below its VWAP indicates a
bearish market.

- **Bollinger Bands (BB)**: This indicator plots two standard deviations above and
below a 20-day simple moving average (SMA) of a given market or index. It shows the
volatility and range of the market. A market trading near the upper band indicates
an overbought market, while a market trading near the lower band indicates an
oversold market.

- **Moving Average Convergence Divergence (MACD)**: This indicator subtracts a 26-

day EMA of a given market or index from a 12-day EMA of the same market or index.
It shows the momentum and trend of the market. A positive MACD indicates a bullish
market, while a negative MACD indicates a bearish market.

- **Stochastic Oscillator (SO)**: This indicator compares the closing price of a

given market or index to its high-low range over a specified period of time, such
as 14 days. It shows the position of the market relative to its recent highs and
lows. A high SO indicates an overbought market, while a low SO indicates an
oversold market.

These are some of the other breadth indicators that you can use to analyze the
market. I hope this helps you with your weekend study. If you have any more
questions, feel free to ask. 😊