Market Monitor Showing glaring weakness

The breadth trends in the market do not look too good currently. There has been marked deterioration in breadth while market is making new high.

As you can see below things are deteriorating everyday instead of improving as rally progressed.

Very small number of stocks are leading the advance and at the same time more stocks are going down than up.

Almost all rallies have breath improvement as move progresses, we see exact opposite of that. You want to see broad based rally and dramatic improvement in breadth for sustainable move.

Biotechnology stocks have been good performer along with some large cap tech stocks , but the small caps are way weak for sustainable move up.

I am cautiously optimistic and watching thngs carefully to reduce risk in case things turn south.

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