Stock Price Breadth
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Scout
Market Bottom Tracker
Seven classic washout gauges — breadth, fear, options, credit, and macro — with how to read each one.
6 of 7 indicators have chart data right now. Looking for tech-specific gauges? Tech Pulse →.
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1Watch
Advance-Decline Line
Proxy series
Breadth 725.74 (−45.11)
Cumulative advancers minus decliners (NYSE/Nasdaq).
Answers: is selling participation fading even if price looks ugly?
Bottom signal Flattens or forms a higher low while price still makes lower lows (bullish divergence).
Showing CNN Stock Price Breadth until a true cumulative A-D line feed is wired.
How to read this Bottom signal is bullish divergence: price makes lower lows while the AD Line flattens or makes a higher low.
What it is The Advance-Decline Line is cumulative market breadth: each day, net advances (# advancing − # declining stocks) are added to the prior total. It shows whether the average stock is participating — typically for NYSE or Nasdaq. We currently show a CNN Stock Price Breadth proxy until a true cumulative A-D feed is wired.
Weakening internals — selling still broad; not yet the “higher low in breadth” tell.
- Current breadth proxy: 725.74.
- Breadth proxy is falling — more names under pressure.
- True AD Line reading is about shape vs the index, not a single level — selling narrowing before price turns.
Checklist shortcuts Scenario Implication AD Line ↑ with index ↑ Healthy uptrend — broad participation AD Line ↓ with index ↓ Broad downtrend — selloff has participation Index lower low, AD higher/flat low Bullish divergence — selling narrowing; early bottom tell Index higher high, AD lower high Bearish divergence — rally thinning Trigger Checklist pass: AD Line stops making new lows and forms a higher low while the index is still making or retesting lows — selling pressure fading, breadth improving before price.
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2Watch
% of S&P 500 above 50SMA / 200SMA
Live
% > 50SMA 38.7 (−0.5) · % > 200SMA 59.3
Breadth of stocks above key moving averages.
Answers: is this rally broad or just a few names?
Bottom signal Rises off depressed lows (<20%); crossing back above 50% confirms broadening participation.
From History of Market. Left: % above 50SMA. Right: % above 200SMA.
% S&P 500 Above 50SMA
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% S&P 500 Above 200SMA
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How to read this Bottom pattern: fall to depressed levels (<20%), turn up, then cross back above ~50% — washout → broadening confirmation.
What it is % of S&P 500 above a moving average = (# stocks above the XX-day MA ÷ total index members) × 100. The 50SMA gauge is intermediate trend participation; the 200SMA is longer-term. It shows how many components are in uptrends — not just what the cap-weighted index is doing.
Mid-range — watch for a clear turn from depressed levels, then a push through 50%.
- % > 50SMA: 38.7% — recovering but still below half (<50%).
- % > 200SMA broadening (59.3%).
- % > 50SMA still falling — washout may not be done.
Checklist shortcuts Scenario Implication % above MA < 20% Washed-out breadth — most names below trend; bottom setup Turns up from <20% Early healing — participation starting to improve Crosses back above ~50% Confirmation — more than half the market reclaimed trend % above MA > 70% Broad strength — healthy uptrend, or late/overbought at extremes Trigger Checklist pass: see “from <20% to >50%” on the 50SMA and/or 200SMA series — washout, then confirmation that the rally is broad, not just a handful of mega-caps.
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3Watch
New Highs vs New Lows (10-day net)
Proxy series
NH / NL -3.22 (−0.4697)
Net new highs minus new lows, smoothed.
Answers: are new leaders actually emerging?
Bottom signal Crosses from negative to positive territory.
Showing CNN Stock Price Strength until a true 10-day NH−NL series is wired.
Stock Price Strength
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How to read this Bottom pattern: extreme negative washout, then the 10-day net rises toward zero and crosses into positive territory.
What it is Net new highs − new lows = (# stocks at 52-week highs) − (# at 52-week lows). A 10-day net smooths that into an oscillator around zero; a cumulative High-Low Line sums it over time. Positive = more new highs than lows (bulls); negative = more new lows (bears). We currently show a CNN Stock Price Strength proxy until a true 10-day NH−NL series is wired.
Weak leadership — new lows still dominating the tape under the surface.
- Current strength proxy: -3.22.
- Strength proxy falling — new-low pressure still building.
- True 10-day NH−NL is read around zero: strongly negative = capitulation; cross above zero = new highs outnumber new lows again.
Checklist shortcuts Scenario Implication Strongly negative NH−NL New lows dominate — breadth washout / capitulation Rises toward zero Selling intensity fading; leadership starting to stabilize Crosses from − to + New highs outnumber new lows — breakouts starting to hold Stays deeply negative Bears still in control — no leadership confirmation yet Trigger Checklist pass: 10-day net new highs−new lows moves from strongly negative back above zero — under-the-surface capitulation gives way to emerging leaders.
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4Calm
VIX (and term structure)
Live
VIX 17.2 (+0) · vs VIX3M -2.16 (contango)
Absolute VIX level plus VIX vs VIX3M when available.
Answers: has sentiment/fear peaked?
Bottom signal Spike-and-reverse from extreme fear, or backwardation resolving into contango.
Spot VIX is live. VIX3M companion shows term structure (contango vs backwardation).
VIX
- <15 Reduce Risk
- 15–25 Hold
- 25–30 Accumulate
- ≥30 Strong Accumulate
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VIX3M
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How to read this Read absolute VIX first, then whether the curve is in contango or backwardation.
What it is VIX is implied volatility on S&P 500 options — expected move over the next ~30 days (the “fear gauge”). Term structure compares spot VIX to VIX3M: contango when futures/medium-term > spot, backwardation when near-term panic is richer than the medium term.
Calm regime — not a washout signal; fear has not peaked recently.
- Spot VIX: 17.2 — normal / calm (normal regimes often sit mid-teens to low-20s).
- Contango (VIX < VIX3M by 2.16) — typical calm/normal regime.
- VIX little changed day-to-day.
Checklist shortcuts Scenario Implication VIX sustained >30–35 Extreme fear — often coincides with capitulation-type selling Backwardation (VIX > VIX3M) Crisis/correction pricing — near-term vol richer than medium-term Contango (VIX < VIX3M) Calm/normal — market expects near-term vol to stay contained Spike → reverse + curve to contango Panic occurred and is cooling — selling pressure fading Trigger Bottom-like sequence: VIX spikes to extreme fear (often >30–35), curve enters backwardation, then VIX falls while the curve flips back to contango — panic happened and is cooling.
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5Calm
Put/Call Ratio
Live
Put/Call 0.7861 (+0.0193)
CBOE equity put/call — options positioning extremes.
Answers: has options panic peaked and started to unwind?
Bottom signal Extreme bearish reading followed by normalization.
Put/Call Options
- <0.50 Bullish
- 0.50–0.75 Neutral
- 0.75–1.0 Bearish
- >1.20 Oversold
Bearish——Click anywhere on the chart to set an alert level.
How to read this Bottom checklist wants an extreme bearish spike, then a fall back toward normal — not the raw level alone.
What it is Equity put/call ratio = put volume ÷ call volume. Higher readings mean more hedging/bearish bets; lower readings mean more bullish/speculative call buying.
Mid-range — not particularly actionable alone.
- Current PCR: 0.7861 — near normal equity range (~0.7–0.8 is common).
- Rising — put demand still increasing.
- Normal equity PCR often clusters around ~0.7–0.8; extremes matter more than the middle.
Checklist shortcuts Scenario Implication PCR ≥ 1.2–1.5 Extreme fear / capitulation — watch for rebound setups PCR > 1.0 Elevated bearish sentiment — puts dominate calls PCR < 0.5 Euphoria — aggressive call buying; pullback risk Extreme high → falls toward 0.6–0.8 Panic peaked and is unwinding — checklist pass Trigger Bottom-like signal: PCR surges to a statistically extreme high vs recent history, then drops back toward its normal range (~0.6–0.8) — everyone bought protection, then stopped.
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6Calm
Credit Spreads
Live
HY OAS 2.71% (+0.06 pts)
High-yield OAS vs Treasuries (ICE BofA). Proxy for HYG/LQD stress.
Answers: is liquidity stress easing?
Bottom signal Spreads stop widening and start compressing — liquidity stress easing.
HY OAS from FRED. HYG/LQD ETF ratio is not wired yet — this spread is the stress proxy.
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How to read this Bottom checklist cares when spreads stop widening and start compressing — liquidity stress easing.
What it is Credit spreads measure how much extra yield corporate borrowers pay over Treasuries. We chart high-yield OAS (junk vs Treasuries) as a practical proxy for HYG/LQD-style stress — when spreads widen, riskier credit is punished; when they tighten, risk appetite returns.
Complacent credit — not a washout signal right now.
- HY OAS: 2.71% — tight / calm (<5%).
- Spreads widening — credit demanding more compensation for risk.
- Widening often leads or confirms equity drawdowns; compression supports bottoms that hold.
Checklist shortcuts Scenario Implication Spreads widening Rising liquidity/solvency concern — risk-off credit Spreads ≥6–8% Elevated / crisis stress — equity drawdowns often nearby Spreads stop rising & fall Liquidity stress easing — bottoms more likely to hold Tight (<5%) Complacent credit — little washout signal Trigger Bottom-like signal: spreads stop widening and start compressing (HY OAS rolls over from a stressed print). HYG/LQD ratio turning up would confirm the same idea once wired.
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7No data
ISM Manufacturing / Follow-Through Day
Coming soon
Coming soon
ISM PMI trend + a strong index rally on rising volume.
Answers: is macro stabilizing, and are institutions confirming with real buy volume?
Bottom signal ISM basing/turning up, or a classic follow-through day confirming institutional buying.
FRED removed ISM/NAPM series in 2024. Chart paused until we wire another source. Follow-through day detection is still manual — watch SPY/QQQ for a +1.5–2% day on higher volume a few sessions after a low.
Chart coming soon — data source not wired yet.How to read this Two complementary tells: ISM for macro inflection, follow-through day for price/volume confirmation.
What it is ISM Manufacturing PMI is a monthly survey of U.S. factory activity (orders, production, employment). Above 50 = expansion; below 50 = contraction. A follow-through day (O’Neil/IBD) is separate: a major index up ~1.5–2%+ on higher volume a few days after a low — institutional buying confirmation.
Macro PMI unavailable — price/volume confirmation (FTD) is the live tell for now.
- ISM PMI: unavailable.
- ISM feed is offline — use follow-through day on SPY/QQQ until a new PMI source is wired.
- FTD is still manual: watch SPY/QQQ for a strong up day on rising volume ~4–10 sessions after a low.
Checklist shortcuts Scenario Implication ISM declining below 50 Manufacturing slowdown / recession risk ISM bases & turns up from lows Macro shifting toward stabilization Follow-through day (+1.5–2% on ↑ volume) Institutional buying — price confirmation ISM turn + FTD together Macro and flows both say risk-on is returning Trigger Bottom-like signal: ISM stops deteriorating and turns up from low levels, and you see a follow-through day in SPY/QQQ on strong volume — macro backdrop plus institutional confirmation.
Educational dashboard, not financial advice. Proxies and gaps are labeled. Confirm bottoms with your own process.