Preview · Breadth · 2026-05-09 · as of 2026-05-09
Breadth tracker
What this is warning you about first. What the dated 2026-05-09 demonstration showed: 47% of sample constituents were above their 200-day moving average versus 62% in the prior sample. This is a historical interface preview, not a current breadth signal.
% > 50d SMA
41%
▼ 9 pp MoM · P22 (10y)
% > 200d SMA
47%
▼ 15 pp MoM · P28 (10y)
New 52w highs
32
▼ 50% MoM
Cap-vs-equal YTD
+4.2 pp
Top-heavy index
S&P 500 breadth
Percent above moving average
Above 50d SMA
▼ 9.0 pp
Above 200d SMA
▼ 15.0 pp
Per-row breadth diagnostics
| Indicator | Value | Δ | MoM | 10y %ile |
|---|---|---|---|---|
| % S&P 500 above 50d SMA | 41.0% | ▼ | -9.0 | P22 |
| % S&P 500 above 200d SMA | 47.0% | ▼ | -15.0 | P28 |
| Advance-decline line slope (5d) | -0.34 | ▼ | -0.4 | P18 |
| Cap-weight − equal-weight YTD | +4.2 pp | ▲ | +1.1 | P86 |
| Top-10 cap concentration share | 36.4% | ▲ | +0.6 | P94 |
| New 52-week highs (count) | 32 | ▼ | -32.0 | P19 |
This is an immutable demonstration fixture dated 2026-05-09, not a current breadth feed. Breadth is leading but noisy; do not draw portfolio conclusions from this historical example.
See the full available data catalog for the snapshots and definitions that are currently published.
Frequently asked questions
- Is breadth a leading or coincident indicator?
- Leading-but-noisy. Narrowing leads drawdowns more often than not, but the lead time has historically ranged from six weeks to nine months. One signal in isolation is not a portfolio decision.
- Why both 50d and 200d?
- Two timeframes catch two different regimes. The 50d reading reflects participation in the trailing two-month tape; the 200d filters short-term noise and reads the longer-cycle health.
- What is the cap-vs-equal YTD spread?
- The S&P 500 cap-weight minus the equal-weight YTD return, expressed in percentage points. A wide positive spread means a small number of large names are carrying the index — i.e. fragile breadth.
- Is mega-cap concentration a sell signal on its own?
- No. High concentration coincides with strong returns historically until it does not, and the inflection is unforecastable from the concentration metric alone. Combine it with revisions and credit, which is what the regime scorecard does.