Power Universe Breadth
Market Breadth is one of the more traditional ways of measuring broad market participation to help gauge the health of the equity markets. Over the years it has lost some of its following to new and more shiny (complicated) market indicators, but it has never lost its usefulness. In developing the relative strength process, I added breadth measures as a relative strength pillar by comparing the breadth across the sectors and subsectors to measure relative participation levels. This chart and snapshot set is a compilation of the most common breadth indicators I have used and shared over more than a decade to give you a one stop rundown of participation.
World ETF RS Rankings
World ETF Relative Strength Rankings give a quick view of what is performing best and worst around the world as well as what is moving different than the rest, in either direction.
Intermarket ETF RS Rankings
Intermarket ETF RS Rankings is a relative strength list based on the general components set forth in John Murphy’s classic Intermarket Technical Analysis books
Size & Style ETF RS Rankings
Size and Style ETF Relative Strength Rankings group gives a one step view of where the performance is and is not based on the size and style of the ETF holdings. This gives a quick reference of what style is leading between growth and value, whether larger cap or smaller cap names are in favor and which of those two measurement types is currently driving the action.
Market Weight Sector ETF RS Rankings
Market Weight Sector ETF Relative Strength Rankings group measures the sector performance rankings based on market capitalization similar to how most indexes have been structured over the last few decades.
Equal Weight Sector ETF RS Rankings
Equal Weight Sector ETF Relative Strength Rankings give a more holistic view of the sector performance and are more inline with our equal weighted sector indexes.
Small Cap Sector ETF RS Rankings
Small Cap Sector ETF Relative Strength Rankings give an option to view when the smaller names in a sector are performing better than the larger names. I find a lot of value in viewing the last three grids from a perspective on what sectors to focus on and where within that sector to concentrate your investing if using the ETFs or research if moving on down to the stock level.