Here you have the Russell 2000 vs. the 5-day moving average of the net number of 1-month highs minus 1-month lows.
Russell 2000 vs., stocks above their 20-day moving average.
SP-500 vs. the average SP-500 stock above their 3,5, and 10-day moving average.
The above charts all show a small slow down in the participation of individual names versus the SP-500 and Russell 2000. This is not actionable on a stand-alone basis if price does not confirm it. The first thing to look for is a lower low in the SPY followed by a lower high.
My opinion and outlook are subject to change as new information comes in.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.