Weekly Market Breadth Report — May 08, 2026
This report is AI-generated from EQTRun's market data and breadth analytics. It is not human-written market commentary and does not constitute investment advice.
Market Overview
S&P 500 rallied this week (+2.3%) to 7,399. MSCI World (ACWI) gained +2.5% to 155. Momentum (4/6) and trend (5/6) breadth are both positive — constructive backdrop across timeframes. Best performer: Nikkei 225 (+5.4%). Weakest: FTSE 100 (-1.3%).
| Metric | This Week | Last Week | 1Y Avg | Z (1Y) |
|---|---|---|---|---|
| Bullish Signal % | 61.7% | 51.8% | 55.4% | +0.6 |
| Bullish Signals | 112,552 | 100,416 | ||
| Bearish Signals | 69,902 | 93,254 |
Slightly more bullish than the 1-year weekly average (z=+0.6).
S&P 500 price with regime signal markers. Green triangles = bullish signals, red triangles = bearish signals.
Key Takeaways
- 🟢 S&P 500: Rallied +2.3% to 7,399. Both momentum and trend breadth are positive — the rally has broad participation.
- 🟢 MSCI World (ACWI): Gained +2.5%, tracking US markets. The rally is global.
- 🟡 Breadth: Momentum is mid-range (4/6) while trend is strong (5/6). The structural move may already be priced in — this combination has historically led to below-average forward returns.
- 🟡 S&P 500: McClellan Oscillator crossed below zero — breadth momentum shifted from positive to negative.
Stocks with the Most Signals
Large-cap stocks ($10B+) with 5+ signals fired this week.
| Symbol | Name | Sector | Signals | Net | 1W % |
|---|---|---|---|---|---|
| INTC | Intel Corporation | Technology | 26 | +18 | +25% |
| FLEX | Flex Ltd. | Technology | 26 | +22 | +55% |
| 6274.TWO | Taiwan Union Technology Corpor | Technology | 25 | +23 | +36% |
| MU | Micron Technology, Inc. | Technology | 24 | +22 | +38% |
| ABEV3.SA | Ambev S.A. | Consumer Defensive | 23 | +15 | +12% |
| MTSI | MACOM Technology Solutions Hol | Technology | 23 | +15 | +27% |
| 3443.TW | Global Unichip Corp. | Technology | 23 | +19 | +22% |
| GOOG | Alphabet Inc. | Communication Services | 22 | +16 | +4% |
Momentum Breadth
Short-term oscillators and price velocity indicators.
| Index | This Week | Last Week | Change | Z (1Y) | Trend |
|---|---|---|---|---|---|
| Advance / Decline | +7,306 | -588 | +7,894 | +0.7 | Flipped bullish |
| New 20D High/Low | +4,029 | +1,230 | +2,799 | +0.2 | Strengthening |
| MACD Breadth | +612 | -3,846 | +4,458 | +0.2 | Flipped bullish |
| RSI Extremes | -971 | -986 | +15 | -0.1 | Stable |
| Bollinger Band | -1,551 | +172 | -1,723 | -0.1 | Flipped bearish |
| Weekly Movers (±10%) | +6,216 | +127 | +6,089 | +0.5 | Strengthening |
Advance / Decline weekly net (bars) with S&P 500 price (right axis). 1Y z-score: +0.7.
Trend Breadth
Longer-term structural indicators.
| Index | This Week | Last Week | Change | Z (1Y) | Trend |
|---|---|---|---|---|---|
| 52-Week High/Low | +2,228 | +1,440 | +788 | -0.2 | Strengthening |
| Fresh 52W High/Low | +380 | +145 | +235 | -0.1 | Strengthening |
| 200 DMA Breadth | +7,988 | +4,444 | +3,544 | -0.6 | Strengthening |
| MA Cross (Golden/Death) | -184 | -250 | +66 | -0.7 | Improving |
| HH/HL Structure | +210 | +101 | +109 | +0.0 | Strengthening |
| Breakout / Breakdown | +536 | +473 | +63 | -0.6 | Strengthening |
MA Cross (Golden/Death) weekly net (bars) with S&P 500 price (right axis). 1Y z-score: -0.7.
Pattern Breadth
| Index | This Week | Last Week | Change | Z (1Y) | Trend |
|---|---|---|---|---|---|
| Double Top/Bottom | +140 | -14 | +154 | +0.1 | Flipped bullish |
| Failed Pattern | +65 | +17 | +48 | +0.3 | Strengthening |
Major ETF Signals
| Ticker | Name | Momentum | Trend | Pattern | Net | Z (1Y) |
|---|---|---|---|---|---|---|
| QQQ | NASDAQ 100 | 8↑ 1↓ | 10↑ | — | +17 | +2.6 |
| SPY | S&P 500 | 6↑ 3↓ | 9↑ | — | +12 | +1.7 |
| EEM | Emerging Markets | 6↑ 1↓ | 9↑ | — | +14 | +2.0 |
| IWM | Russell 2000 | 2↑ 4↓ | 9↑ | — | +7 | +1.1 |
| GLD | Gold | 5↑ 2↓ | 3↑ 1↓ | — | +5 | +0.5 |
| TLT | 20+ Year Treasury | 5↑ 2↓ | 2↑ | — | +5 | +1.4 |
| IBIT | Bitcoin | 4↑ 4↓ | 1↑ | — | +1 | +0.2 |
| EWJ | Japan | 5↑ | 1↑ | — | +6 | +1.1 |
| HYG | High Yield Corp | 6↑ | — | — | +6 | +1.2 |
| USO | Oil (USO) | 4↓ | 1↓ | — | -5 | -1.5 |
| EFA | EAFE (Dev ex-US) | 1↑ 1↓ | 1↑ 1↓ | — | +0 | -0.5 |
| DIA | Dow Jones | 1↑ 1↓ | — | — | +0 | -0.3 |
QQQ weekly net signals (bars) with QQQ price (blue line, right axis). 1Y z-score: +2.6.
Sector Breadth (Advance/Decline)
| Sector | Net | % Bullish | Z (1Y) |
|---|---|---|---|
| Industrials | +2,025 | 57.5% | +0.9 |
| Technology | +1,971 | 59.7% | +1.1 |
| Consumer Cyclical | +1,416 | 58.1% | +1.1 |
| Basic Materials | +785 | 55.4% | +0.7 |
| Financial Services | +729 | 54.2% | +0.5 |
| Real Estate | +472 | 55.4% | +0.7 |
| Communication Services | +315 | 56.0% | +0.9 |
| Consumer Defensive | +59 | 50.7% | +0.2 |
| Healthcare | +53 | 50.4% | +0.2 |
| Utilities | +38 | 51.0% | +0.0 |
| Energy | -642 | 36.0% | -2.1 |
Energy sector weekly A/D net with S&P 500 price (right axis). 1Y z-score: -2.1.
What to Watch Next Week
- MA Cross (Golden/Death) at -184. Improving but still negative.
- Advance / Decline leading at +7,306. Watch for continuation vs exhaustion.
- Advance / Decline just flipped — need follow-through to confirm.
Last Week We Said
From our report on May 01:
- 🟢 S&P 500: Rallied +1.4% to 7,265. Both momentum and trend breadth are positive — the rally has broad participation.
- 🟢 MSCI World (ACWI): Gained +1.3%, tracking US markets. The rally is global.
- 🟡 Breadth: Momentum is mid-range (3/6) while trend is strong (5/6). The structural move may already be priced in — this combination has historically led to below-average forward returns.
What happened: S&P 500 rallied +2.3% this week. The bullish signals were on track.
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