Nothing Broken, Yet Everyone’s Worried 🐂

Today's number is... 100%

All major US indices remain above every moving average, from the 5-day to the 200-day.

Here’s the chart:

Let's break down what the chart shows:

• The table lists the S&P 500, Nasdaq, NYSE, Russell 3000, Dow, and Russell 2000 in the first column.
• Each column to the right shows a moving average length: 5, 10, 20, 50, 100, 150, and 200 days.
• Green shading means the index is trading above that moving average. Red would mark below.

The Takeaway: This is as strong as a market can get.

Every major index is stacked above every moving average, short to long.

That’s not just a bounce… that’s trend strength at full power.

Markets break when they slip below the trend. Here, nothing is broken.

The board is max green, and the trend structure is fully aligned.

History shows that when alignment is this uniform, rallies tend to travel further. It’s the foundation that lasting bull markets are built on.

And yet, surveys still lean fearful.

Skepticism runs high even as the tape shows strength.

Why are so many scared of a bull market this strong?

The tape’s message is simple: the trend is bullish until proven otherwise.

Let me know!

Grant Hawkridge | Chief Aussie Operator, All Star Charts

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