We registered 1,026 fresh one-month lows yesterday.
The important part:
The 5-day MA of new lows is rising sharply, and now the 21-day is starting to curl higher as well.
That means weakness is expanding beneath the surface.
But remember, breadth controls size, not opportunities.
What we see above is that breadth is below all short-term moving averages, and the market structure remains intact.
All that means is that position sizing should probably be reduced until we start seeing more green on the breadth dashboard.
