E-Wave for the S&P 500 Index

[rimshot]

S&P Composite 1500 index new 52-week highs
minus
new 52-week lows COUNT

plot of the cumulative net Count
and
plot of the daily net Count
( count is expressed in Percentage terms )

upside strength is displayed in recent weeks/months in
both plots, and
while this is currently the case be vigilant
for any actual future timing of changes in their character

front-running with non-evidence based actions is not recommended ....
trust and act only upon actual chart facts which develop

https://c.stockcharts.com/c-sc/sc?s=%24SUPHLP&p=D&yr=2&mn=7&dy=0&i=p74960383002&a=382342019&r=1579327367695

chart #2 -

plot of the S&P 500 index new 52-week highs Count
and new 52-week lows Count
AND
plot of the S&P 500 index new highs minus new lows Differential'
smoothed with the 10-day moving average

rising uptrend for the metrics, lasting a number of months ...

be vigilant if the character changes at a future date,
though
be open minded the upside has the potential for now being
in its early stages ...
time will tell, and trusting the actual chart evidence
is the prudent course of decision making about risk/reward
for holding with the potenially bullish opinion until evidence
to the contrary actually develops

https://c.stockcharts.com/c-sc/sc?s=%24SUPHLP&p=D&yr=2&mn=7&dy=0&i=p74960383002&a=382342019&r=1579327367695