Market Breadth Weekly — September 21, 2026

Breadth moved sharply down this week, a 8-week low, landing at 49.0% of the S&P 500 above its 200-day MA. Golden crosses outpaced death crosses 12-to-7. Healthcare led the market this week.

Breadth is at the 28th percentile of its own 5-year history — a neutral regime. The SPY is 2.1% off its 60-day high while breadth has moved from 73% to 50% 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 2026-09-19.

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)

• Healthcare (XLV): +1.8% this week (+8.0% vs 200-day MA)
• Technology (XLK): +1.0% this week (+16.7% vs 200-day MA)
• Consumer Staples (XLP): -0.7% this week (-0.9% vs 200-day MA)

Sector Laggards (this week)

• Utilities (XLU): -3.0% this week (-7.7% vs 200-day MA)
• Financials (XLF): -2.4% this week (+4.0% vs 200-day MA)
• Real Estate (XLRE): -2.0% this week (-1.5% vs 200-day MA)

Full-market breadth (all 4,747 stocks tracked) is 42.7% above their 200-day MA vs. 49.0% for the S&P 500 alone — a 6-point gap. Large caps are currently stronger than the broader market.

Read this edition online: tradingtwohundred.com/digest/2026-09-19

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