Indicator Desk | Technical Bear-Market Breadth

Percent of stocks more than 20% below their 52-week high

This is a breadth indicator. It looks inside each ETF or index basket and asks how many individual stocks are already in a technical bear market, even if the headline index is still near its highs.

Indicator Stocks down 20%+ from 52-week high / valid constituents

Breadth Comparison

Higher readings mean more constituents are deeply below their own highs.

High Elevated Moderate Low

What This Indicator Shows

A stock is in a technical bear market when it trades more than 20% below its 52-week high. This dashboard counts that condition stock by stock, then reports the percentage inside each ETF basket.

Rising percentage: weakness is spreading under the index surface.
Falling percentage: more stocks are recovering from large drawdowns.
Different baskets matter: mega-cap, Nasdaq, large-cap, and small-cap breadth can diverge.

Reading Guide

High: 40%+ Broad weakness. Many stocks are already in deep drawdowns.

Elevated: 30% - 39.9% Breadth is weakening. Watch for further deterioration or stabilization.

Moderate: 15% - 29.9% Normal pullback zone. Use trend and credit/liquidity context.

Low: below 15% Few stocks are deeply below highs. Can mean broad strength or concentrated leadership risk.

Important Caveats

This is not a buy or sell signal by itself. It is a market-health gauge. A high reading can mark stress, but it can also appear near capitulation. A low reading can be healthy, but it can also hide narrow mega-cap leadership.

Use it with trend, valuation, liquidity, credit, and your own risk rules.