This is a new chart we will carry daily along with the Advance-Decline Line chart. I find it useful in spotting and comparing climactic breadth activity. Breadth climaxes -- large numbers of net declines --  often signal the beginning or end of a price trend. Here is how I interpret the examples above:

(1) This was the end of the short correction associated with the topping of the 10-Week Cycle -- it marks the low point for that cycle.

(2) This climax signalled the beginning of the correction/consolidation associated with the 20-Week Cycle.

(3) Signalled the turning point of the correction, and

(4) Signalled that the correction was over.

(5) It is not yet clear what this climax is telling us, but, since it has come after a seven week advance, it is most likely that it is alerting us to a new corrective phase.

Even though it is not always obvious what breadth climaxes mean until well after the fact, they are still worth noting. 

--Carl Swenlin