Check tag for prior versions. Most breadth tools out there have been very strong. Though I have been mostly recommending a bullish portfolio from late February and increasing bullish as stock indexes cleared pivots, the reason I have not gone max long, kept some safe haven positions and shorts, is because NYA and ACWI are still under long term levels.
Both indexes have had resistance for a few weeks in the crucial YP / 1HP zone. Today both pulling back to near AprPs. A bullish scenario would be hold here then higher. But if AprPs break then we have to think about moves to Q2Ps on these which would probably mean jump in safe havens and more damage on the leaders.
Crystal clear resistance on NYA 1HP / YP combo. Looks worse at this point with rejection looming, but not finalized until close.
Here's the daily chart version with the same long term levels. Looks in play don't you think?
Now adding the Q2 and AprPs. Support just below today, better to hold that. If lower then down to Q2P possible.
ACWI looks very similar. This is not coincidental.
Also holding AprP so far. Stronger to hold that, if below then move to Q2P possible.