There are dozens of breadth tools and other market internal measures out there. Various advance decline measures, new high new lows, cumulative breadth, technical signals on these like McClellan oscillator, advancing / declining volume, etc. Some of these can be helpful, so pick what you like.
Here we start with pivots on broad institutional indexes.
Both NYA and ACWI have reached places very likely to pause considering pivots and high RSIs. NYA is testing long term levels from underneath, tagging 1HP with YP just above and Q1P also nearby. ACWI cleared 1HP slightly, but ran into Q1P and YP just above.
From here let's think about the possibilities:
strong bullish: soar above - less likely given RSIs.
bullish: few days pause then clear - possible.
mixed bullish: pullback, then another try - also quite possible.
pesky bearish: fakeout with 1-2 days clear the fall back - not happening so far.
bearish: major top here and down - cannot be ruled out.
worst: chop above break above break - hopefully this doesn't happen.
NYA W has stopped cold on the 1HP. Clearing this would be additional bullish signal, but a rejection here risks more of a fade on the leaders. Also note the 2015 Q4 rejection of the YP was a major tell going forward, as well as the bottoms bank on on 1HS2 in the second half.
NYA D testing its Q1P as I type. Even though there is only about 1 more week in the quarter, for now this level is in play.
NYA all levels. The key thing here is that 1HP and YP above will be in play in April, where we will have new Q2P and of course AprilP to consider. For now rejection from a long term level is bearish.
VTI is also a broad index ETF. I'm not sure how much to weight compared to NYA due to the 8/24/2015 spike low (similar issue on QQQ, XLF, etc). But the low bang on Q1S2 looks pretty good, and the rejection of the YP early January also clear. Something to keep in mind along with NYA possibly.
ACWI weekly pausing in pivot zone YP and 1HP. Holding 1HP as support this week somewhat bullish; rejection would be bearish. Or it could stay in congestion zone and not give anything clear.
ACWI pause at the Q1P.
Now with all levels - a very likely place for a pause, especially with RSI at 68 on the high. But whether this starts a major rejection or shuffle then clear remains to be seen.