About This Dashboard

This tool consolidates the market indicators referenced in our Market Intelligence Hub into a single, regularly updated view. It is designed to support disciplined, rules-based assessment of current market conditions.

What It Monitors

• Market Breadth — the percentage of stocks trading above their 20-day moving average (MMTW), the McClellan Oscillator (NYMO), and the McClellan Summation Index (NYSI). These measure the breadth and momentum of participation across the market, and are most significant at extremes. We specifically monitor NYMO readings at or beyond ±80, and MMTW readings below 15%, as indicators of exhaustion conditions.
• Put/Call Ratios — informed by Larry McMillan’s Option Strategist research. McMillan tracks equity-only and weighted put/call ratios using a proprietary methodology to identify when options market sentiment is diverging from or confirming price action. When these ratios are rolling downward from elevated levels, it historically signals improving conditions.
• S&P 500 Price vs. Key Support — the live S&P 500 price compared against structural support levels identified in McMillan’s weekly commentary. A break below support is treated as a meaningful deterioration signal.
• IBD Market Status and Follow-Through Day — Investor’s Business Daily publishes a daily Big Picture column assigning one of four market conditions: Confirmed Uptrend, Uptrend Under Pressure, Rally Attempt, or Market in Correction. A Follow-Through Day — a significant index gain in higher volume on day 4 or later of a rally attempt — is IBD’s primary signal of a durable market turn. Distribution days (significant index losses in higher volume) are tracked separately for the Nasdaq and S&P 500 as an indicator of institutional selling pressure.

What the Output Means

The dashboard computes a composite market regime based on the weight and alignment of the above signals. The output ranges across five states:

• Confirmed Bull — the majority of inputs are positive and aligned. IBD has confirmed the uptrend.
• Bull — conditions are broadly positive with minor mixed readings.
• Caution — one or more warning signals are active. Conditions are mixed.
• Warning — multiple warning signals are firing simultaneously.
• Bear — structural deterioration is confirmed across multiple indicators.

No single indicator drives the composite output. The dashboard is particularly reliable as a bottom confirmation tool: when multiple breadth indicators reach extreme oversold levels simultaneously and an IBD Follow-Through Day is subsequently declared, the alignment provides high-confidence evidence of a durable market turn.