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Market Internals, Breadth and Intermarket Analysis

Read the market underneath the index: TICK, ADD, VOLD and TRIN intraday; advance-decline lines, percent-above-MA, McClellan and breadth thrusts daily; VIX structure, put/call and dealer gamma; bonds, dollar, credit and sectors. Then build a 10-minute dashboard and log the regime.

Module 1: Why internals matter

The index is not the market, a handful of megacaps can hide a weak tape, and every timeframe needs a regime call before a setup.

  1. The index vs the average stock9 min
  2. How a few megacaps mask breadth9 min
  3. Regime awareness for every timeframe10 min

Take the module quiz

Module 2: Intraday internals

NYSE TICK, ADD, VOLD, UVOL/DVOL and TRIN: what each measures, what extremes look like, and how a trend day differs from a chop day.

  1. NYSE TICK and its extremes10 min
  2. ADD, VOLD and UVOL/DVOL10 min
  3. TRIN: the Arms index9 min
  4. Trend day vs chop day on internals11 min

Take the module quiz

Module 3: Daily and weekly breadth

Advance-decline divergences, percent of stocks above the 50 and 200-day, new highs and lows, the McClellan family, equal-weight vs cap-weight, and breadth thrusts with honest hit rates.

  1. Advance-decline line divergences10 min
  2. Percent above moving averages, and new highs vs new lows10 min
  3. McClellan oscillator and summation index10 min
  4. Equal-weight vs cap-weight, and breadth thrusts11 min

Take the module quiz

Module 4: Volatility and positioning

VIX and its term structure, VVIX, put/call ratios and skew, dealer gamma explained without mysticism, and what options expiration does to the tape.

  1. VIX and the term structure11 min
  2. VVIX, put/call ratios and skew10 min
  3. Dealer gamma positioning, explained simply11 min
  4. Options expiration effects9 min

Take the module quiz

Module 5: Intermarket relationships

Bonds and the yield curve, the dollar and commodities, credit spreads, sector rotation across the cycle, crypto's shifting correlation, and what to do when the relationships break.

  1. Bonds vs stocks, and the yield curve11 min
  2. The dollar, commodities and crypto10 min
  3. Credit spreads: high yield vs investment grade10 min
  4. Sector rotation, the business cycle, and when correlations break11 min

Take the module quiz

Module 6: Building a dashboard

A ten-minute daily routine, free sources for every series, a regime log for your journal, how it plugs into the swing and day trading playbooks, and a worked example week.

  1. The ten-minute daily routine9 min
  2. Free sources for every series9 min
  3. Logging regimes, and combining with the playbooks10 min
  4. A worked example week11 min

Take the module quiz

Educational content, not financial advice.