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21st Century Point and Figure: New and Advanced Techniques for Using Point and Figure Charts by Jeremy du Plessis

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Chapter Nine. 21st Century Market Breadth

Market Breadth indicators accumulate the number, or measure the percentage, of stocks in a universe (usually an index), that fulfil some condition. The condition could be anything from the number of advances less declines, to the percentage of stocks hitting new highs, or something like the percentage of stocks with an RSI value above 50. There are literally hundreds of different breadth measures. If you are unfamiliar with the concept of market breadth, you are urged to read up on it.

It is important when calculating these market breadth indicators that the index of stocks is large and does not have regular reviews. Some capitalisation indices have their constituents reviewed every three months and ...

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