Breadth up next?

$IWM $QQQ

Much has been written about the mega caps driving the market up this year. QQQ 0.00%↑ is trouncing the other indices year to date.

This week was interesting, as the headline takeaway might be something that’s been brewing for quite some time - market breadth is expanding.

Friday was a 90% up day -

So let’s check in on the IWM 0.00%↑

Now peaking above it’s 200 day moving average yet again, with the AVWAP from the all time high in November ‘21 right above (purple).

If breadth continues to stay strong, it would seem likely that we get up there and retest that AWVAP yet again.