The daily charts below shows $NYA, the NYSE Composite Index. The indicator window shows the New 52-Week Highs and New 52-Week Lows of the NYSE. I am trying to use these breadth indicators to gauge the bottom of this pullback/correction. The New 52-Week Highs are still way under the 50-day SMA and the New 52-Week Lows are still above the 50-day SMA and increasing. There was a similar situation back in February, see the circled areas. I am still waiting until the New 52-Week Highs are increasing and eventually move above the 50-day SMA and the New 52-Week Lows move way below the 50-day SMA.
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