Chart of the Day - Tuesday, April 8, 2025

🏆 Today's Chart of the Day was shared by Alfonso De Pablos (@AlfCharts).
 

• The S&P 500 closed lower by -1.5% after being up more than +4.0% this morning. It's not bullish seeing bounces fade so quickly. 
   
• As of today, only 12% of stocks in the S&P 1500 are above their 200-day moving averages, marking the lowest reading since Covid. 
   
• While breadth is extremely weak, Alfonso points out that reclaiming the 15% threshold has historically been a solid buy signal. 
   

The Takeaway: Breadth has reached washout levels, but the coast isn't clear until this indicator turns higher and reclaims 15%. For more on this signal, read the full post here.