Thanks for the excellent, concise answer Randy!

Breadth indicators typically compare the number of advancing issues to the declining issues in order to give some possible insight as to the health or sustainability of a current uptrend or downtrend in the market. In a healthy market, most stocks are rising in line with the major averages. However, it is fairly common to see market breadth deteriorate towards the end of an uptrend, with a decreasing number of stocks, usually fewer & fewer beloved mega-caps stocks (e.g- The FAAMGs) accounting for an increasing percentage of the gains while more & more stocks within the index begin to move lower.

What does “breath indicator” mean? Thanks in advance.

Yes. I have section of saved breath indicators on my stockcharts.com account that I’ll keep an eye on from time to time on. Here’s are a few that warned of the Jan/Feb highs in the market using divergences between the major stock indices & their percentage of stocks trading above their 50 or 200-day moving averages:

http://schrts.co/D34yUw
http://schrts.co/ty2Yza
http://schrts.co/qZ53ra
http://schrts.co/8wq8uw
http://schrts.co/nwsNaC