Another great post from Mugabe
Look at the stocks in the SPY 500 above their 150 day ma. See link:
http://stockcharts.com/h-sc/ui?s=$SPXA150&p=D&yr=2&mn=0&dy=0&id=p52628312832
When it gets to below 50 stocks above their 150 day ma (i.e less than 10% of the SPY), start to pay attention. Then, when there is a breach of 150 day moving average of this chart AND weekly MACD confirms, pay a lot of attention.
Obviously the price chart comes first, but when this breadth chart flashes warning signs, it may be worth factoring into your calculations. Might be useful ...