ME News reports that on October 25 (UTC+8), The Kobeissi Letter posted on X that the latest market data shows U.S. stock market breadth is rapidly improving. On October 23, the percentage of S&P 500 components trading above their 50-day moving average rose by 5 percentage points to 61%, reaching its highest level since mid-August and more than doubling from the intraday low on October 1.
Meanwhile, the percentage of components trading above their 200-day moving average rose by 3 percentage points to 57%, reaching a new high since September 9 and increasing by a total of 17 percentage points over the past three weeks. Despite the S&P 500 remaining largely flat over the same period, the improvement in market breadth ranks among the top three largest gains in the past three years.
Additionally, on October 22, the S&P 500 fell 1.2%, yet 335 of its components closed higher, indicating that the breadth of advancing stocks within U.S. equities is expanding, suggesting the overall market performance may be stronger than what the index reflects. (Source: ODAILY)
S&P 500 stocks above the 50-day moving average rise to 61%, market breadth improves sharply.
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Summary
Altcoins in focus gained attention as U.S. stock market breadth improved sharply. On October 23, the percentage of S&P 500 stocks trading above their 50-day moving average rose to 61%, the highest level since mid-August. On-chain data showed the 200-day moving average reading climbed to 57%, up 17 percentage points in three weeks. Despite a flat S&P 500, this breadth improvement ranks among the top three over the past three years. On October 22, 335 components closed higher despite a 1.2% decline in the index.
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