Since the low of August 27th, the market (S&P 500) has staged an impressive rally, climbing by more than 4% in that brief time. It's very encouraging to see that this rally off the low has been broad-based as market breadth has more than kept up, showing few if any signs of bearish divergences.
In fact, the A/D line for the S&P 500 has pulled ahead of the Index:
This bullish market breadth can also be seen with the equal-weight S&P 500 (RSP) recently hitting new highs versus the SPY:
Finally, at the risk of overkill, the following exhibit shows equal-weight S&P 500 sectors versus the S&P 500 (cap-weighted):
Of the nine major sectors, six have outperformed the Index, two have slightly underperformed and utilities have just been crushed. Overall the equal-weighted representation further shows solid breadth in this recent advance, a bullish tailwind for the market.
I must run but will have more tomorrow.