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Breadth Thrust Indicator
Dr. Martin Zweig developed the Breadth Thrust Indicator, one of basic market momentum indicators. He proved that the majority of bull markets start with a Breadth Thrust. To calculate the indicator you should divide a ten-day EMA of the number of advancing issues by the number of advancing plus declining issues. Therefore, "Breadth Thrust" happens when the indicator grows from 40% to 61.5%. This fact demonstrates that the market has quickly moved from an oversold condition to the position of strength. Still it's not overbought yet.