Market breadth weakened again this week. The share of US stocks trading above their 50-day reading fell to 27.82%, meaning fewer than one in three names is still holding above that line. The 150-day reading slipped to 43.97%, and the 200-day reading came in at 46.67%. The combined reading, which blends these horizons, stands at 39.49%. Every measure moved lower: the 50-day reading lost 2.93 percentage points, the 150-day reading 2.75, the 200-day reading 2.63, and the combined reading 2.77. In plain terms, the pullback was broad rather than concentrated in any single horizon.
The trend has now run down for 3 consecutive weeks, and the current band is Difficult. What stands out is that the declines are fairly evenly spread across the short, medium, and long horizons, which suggests the pressure is not confined to recent weakness alone. That pattern usually points to a market where participation has thinned out across the board rather than one where only the fastest-moving names have rolled over.
Against the signal lines, the combined reading sits 13.44 percentage points below its 20-trading-day line and 27.98 percentage points below its 50-trading-day line. Both deviations are negative, and the gap is wider at the longer horizon. Meaning the combined reading is stretched well beneath both reference lines, with the distance growing as the lookback lengthens. This describes where breadth stands right now, not where it is headed.