US market breadth weakened again this week. The share of stocks above their 50-day reading fell to 28.65%, down 0.41 percentage points, meaning fewer than one in three stocks is still holding above its shorter-term average. The 150-day reading dropped to 42.18% and the 200-day reading to 43.94%, declines of 1.64 and 2.35 percentage points respectively. In plain terms, the pullback was concentrated at the longer end, which suggests the pressure reflects a broader erosion rather than a single sharp short-term shakeout. The combined reading, at 38.26%, slipped 1.47 percentage points.
The trend is now classified as Difficult, with the direction down for 1 week. That pattern usually points to a market where participation has thinned across the board rather than in isolated pockets, and the Difficult band captures that the majority of stocks sit below their medium- and long-term averages.
What stands out is the gap to the signal lines. The combined reading sits 4.89 percentage points below its 20-trading-day signal line and 24.34 percentage points below its 50-trading-day signal line. The wider gap at the longer horizon indicates that breadth has been fading for some time, not just in the latest stretch. Meaning: the current reading is well under both reference levels, and the shortfall is more pronounced against the longer signal line.