Market Breadth Weekly — September 15, 2026

Breadth moved notably down this week landing at 56.0% of the S&P 500 above its 200-day MA. Golden crosses outpaced death crosses 12-to-7. Communication Services led the market this week.

Breadth is at the 44th percentile of its own 5-year history — a neutral regime. The SPY is 2.2% off its 60-day high while breadth has moved from 73% to 55% over that same window — a classic narrowing-breadth warning sign.

Cross of the Week: ALGN (Healthcare) crossed below its 200-day moving average on 2026-09-09, with volume confirmation, on 955,956 average daily volume.

This week: 12 golden crosses vs. 7 death crosses as of 2026-09-15.

Top Golden Crosses (by volume)

• PLTR (Technology) — crossed 2026-09-09
• PFE (Healthcare) — crossed 2026-09-11
• NOW (Technology) — crossed 2026-09-09
• CMG (Consumer Cyclical) — crossed 2026-09-04
• NEM (Materials) — crossed 2026-09-11

Top Death Crosses (by volume)

• CNP (Utilities) — crossed 2026-09-14
• XEL (Utilities) — crossed 2026-09-09
• DUK (Utilities) — crossed 2026-09-11
• TPR (Consumer Cyclical) — crossed 2026-09-11
• GNRC (Industrials) — crossed 2026-09-11

Sector Leaders (this week)

• Communication Services (XLC): +2.7% this week (+0.9% vs 200-day MA)
• Energy (XLE): +0.7% this week (+16.6% vs 200-day MA)
• Consumer Staples (XLP): -0.2% this week (+1.1% vs 200-day MA)

Sector Laggards (this week)

• Materials (XLB): -3.7% this week (+0.4% vs 200-day MA)
• Industrials (XLI): -3.0% this week (-0.8% vs 200-day MA)
• Utilities (XLU): -2.9% this week (-6.3% vs 200-day MA)

Full-market breadth (all 4,742 stocks tracked) is 45.3% above their 200-day MA vs. 56.0% for the S&P 500 alone — a 11-point gap. Large caps are currently stronger than the broader market.

Read this edition online: tradingtwohundred.com/digest/2026-09-15

Dig deeper: This week's movers · Cross-asset correlations · Golden Cross scanner