Wall Street Digest
You’ve heard the saying: “It’s not a stock market, it’s a market of stocks.”The last month and a half couldn’t have made that statement truer. Breadth, by many measures, has not been great. The numbers are flat, unimpressive, and definitely not representative of the action happening underneath the surface. Take a look: 📊 SPY vs. Stocks Above Their 40-Day Moving AverageIn the first chart, SPY has been in a steady uptrend, but the breadth figure (T2108) has been flatlining. That divergence has been irrelevant. Sometimes you have to stop listening to the indices and start listening to the stocks themselves. [...]