Breadth Chart Now Shows Bull And Bear Counts
We’ve recently updated our breadth chart that is calculated from the Twitter (TWTR) stream to include the number of bullish and bearish stocks. This allows you to see a bit more detail about what is happening in the market. For example, currently the breadth indicator is holding up fairly well even though the number of bullish stocks has been falling since mid February. The reason for this is that the number of bearish stocks isn’t rising rapidly. This tells us that some value buying is occurring rather than aggressive selling in beaten down stocks. Contrast that with the number of stocks with weak support on Twitter at the end of January and you’ll see much more selling occurred earlier in the year. You can access the interactive chart here. If you hover over the lines you can see how the breadth indicator and counts changed over time.
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