Breadth from the Twitter stream is still painting a fairly significant negative divergence with the S&P 500 Index (SPX). Over the past week the number of strong stocks rose a little and the number of weak stocks fell a bit. The negative divergence isn’t too concerning at the moment, but it does indicate that the momentum stocks of last year are not being supported by traders on Twitter. I’d like to see this indicator recover over the next two weeks or it may provide early warning of a dip.
On StockTwits the number of strong stocks rose sharply and the number of weak stocks had a small decline. The strong stocks are pushing breadth from StockTwits sharply higher.
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