Breadth has flipped too

Breadth has begun to portray some real weakness.

Here is a chart we occasionally show which gives you a BREADTH based LEADING INDICATOR the gives you a direction for the future but not the extend of a move. This means that if the red line goes down we expect weakness, but we cant tell whether this will be 5 or 50 points.

The chart also shows you our proprietary LIQUIDITY INDEX which signals the beginning of weakening LIQUIDITY.