ASX Advance / Decline

The A/D line is a cumulative record of advancing stocks minus declining stocks each week. It helps show whether index movement is broadly supported or driven by fewer names. The green Trend Line is a 30-week EMA of the A/D line.

Breadth Quality is Sharemaestro's high-level read on whether participation is broad, confirmed, and internally healthy. It blends participation, trend, fair-value position, market dynamics, sector spread, and pressure context without exposing the exact weighting.

As a guide, 65+ is constructive, 45-64 is mixed, and below 45 is fragile or weak.

Reversal Pressure measures whether internal risk is building across the exchange. It pays attention to reversal warning clusters, danger clusters, weakening dynamics, fair-value deterioration, and downside participation.

This score is inverted: below 35 is healthier, 35-54 is elevated, and 55+ means risk pressure is high.

This compares the current exchange state with similar historical breadth states and summarizes what happened to the A/D line over the following weeks. It is context, not a forecast guarantee.

The verdict turns the latest breadth, confirmation, pressure, and sector-spread readings into a plain-English exchange read. It is designed to answer: is participation healthy, fragile, improving, or deteriorating?

This panel asks whether the exchange is improving across multiple layers, not just price. Readings above 50% mean more than half of the exchange is participating. A healthier market usually has several bars above 50%, not just one.

This panel places constructive readings beside risk. Quality, thrust, and sector participation are better when higher. Reversal pressure is different: lower is healthier, while a high reading means warnings and danger are building under the surface.

New highs show leadership broadening. New lows show unresolved damage. Green bars above zero and red bars below zero make it easier to see whether leadership is expanding or damage is spreading.

This separates ordinary declining breadth from Sharemaestro reversal warning and danger clusters. For retail investors, the key question is whether weakness is just a normal pullback or whether the risk stack is starting to build.

Divergences look for disagreement between price direction and the internal tape, such as index strength with weak participation, or index weakness while breadth quality starts repairing.

The heatmap shows whether breadth is concentrated or spreading. It is often more useful than the headline index because it reveals which sectors are participating, repairing, or carrying risk.

Exchange Earnings Multiple is Sharemaestro's broad valuation lens for an exchange. It converts constituent earnings yield into an exchange-level multiple, weighted by market cap where possible.

It is not Shiller CAPE and it is not a prediction. It answers a simpler retail-investor question: is this exchange being priced richly or cheaply against the earnings power currently available in its listed companies?

Higher readings suggest a richer valuation backdrop; lower readings suggest a cheaper one. The chart starts with the weekly factor history we have and extends automatically as new factor snapshots are built.