Tuesday, June 20, 2023

Dow Theory Update for June 20: Bull markets may be born with poor breadth

As I explained HERE, a new Bull market has been born. However, many analysts complain that poor breadth challenges higher prices. Well, poor breadth does not necessarily imply a still-born bull market. Many bull markets start with just a few leaders until the broad market catches up. Simon White, on LinkedIn, analyses poor breadth from an interesting angle. The top 5 S&P500 stocks are bouncing from deeply oversold conditions, which is a positive for the overall market. That being said, the stock market may take a breather any moment now.





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