U.S. stocks showed improving short-term breadth in the latest session, with more issues advancing than declining on both the Nasdaq and New York Stock Exchange, even as longer-term measures continued to point to a market that remains uneven beneath the surface.
On the Nasdaq, 1,623 stocks advanced compared with 1,395 decliners, while 116 were unchanged. Advancing volume reached about 3.13 billion shares, topping declining volume of roughly 2.26 billion.
The NYSE also finished with more advancing issues than declining issues, with 946 gainers, 888 losers and 40 unchanged. Trading volume told a different story, however, as declining volume of about 2.32 billion shares exceeded advancing volume of roughly 1.66 billion.
New 52-week highs and lows also reflected the split. The NYSE recorded 37 new 52-week highs against 17 new lows, while the Nasdaq posted 45 new highs and 92 new lows.
Across the broader market, short-term momentum was stronger. Among more than 5,100 stocks tracked, 1,309 reached new five-day highs compared with 1,058 hitting new five-day lows, a positive difference of 251.
That strength faded over longer periods. On a one-month basis, 291 stocks reached new highs while 439 made new lows. The gap remained negative over three months, six months and 52 weeks.
The Nasdaq showed the greatest weakness in those longer-term measures. While five-day highs outnumbered lows by 147, one-month lows exceeded highs by 99, and 52-week lows exceeded highs by 47.
The NYSE presented a somewhat healthier picture. Although one-month lows still outnumbered highs, the exchange showed positive differences over three-month, six-month, 52-week and year-to-date periods.
The Barchart Market Momentum Index slipped 0.28%, but several moving-average indicators improved from the prior session.
About 61% of stocks tracked by the index were trading above their five-day moving average, up from roughly 59% the previous day and 34% a week earlier. Just under 46% were above their 20-day moving average, while slightly more than half were above their 50-day average.
Longer-term participation remained stronger, with about 58% of stocks above their 200-day moving average.
The data points to a market with improving near-term participation but a still-fragile intermediate trend. More stocks are participating in the latest bounce, but the elevated number of new lows, particularly on the Nasdaq, suggests the broader market has not yet fully repaired the weakness seen over the past several weeks.