InternalsUpdated daily after close · as of 2026-06-25
Zweig Breadth Thrust: Is It Flashing Right Now?
The Zweig Breadth Thrust is Marty Zweig's rare, deeply bullish breadth signal: the 10-day average of advancing ÷ (advancing + declining) issues surging from below 0.40 to above 0.615 within 10 trading days — breadth flipping from washed-out to broad buying in two weeks. It has marked the start of durable advances. Live reading and full history since 2010.
Today's reading
As of market close on June 25, 2026, the Zweig Breadth Thrust is not triggered — no thrust is active and breadth is mid-range. Our 10-day breadth EMA is 0.51 (a thrust requires it to surge from below 0.40 to above 0.615 within 10 trading days). The last thrust fired on January 8, 2019. There have been 6 thrusts since 2010; the S&P 500 was higher 12 months later after every one.
Source
Daily advancing/declining issues from our common-stock universe (~5,000 symbols, 2010–present)
Methodology
ZBT = 10-day EMA of advancing/(advancing+declining); thrust = EMA crosses from <0.40 to >0.615 within 10 trading days
Updates
Daily after US market close (~1pm PT)Last: 2026-06-25
Breadth thrust2026-06-25 · 10-day EMA
NEUTRAL
0.51
Breadth is mid-range — no thrust active
Thrusts since 2010
6
Last thrust
2019-01
Avg SPY +12m
+14.9%
A thrust needs the EMA to climb from below 0.40 to above 0.615 within 10 sessions. After all 6 thrusts since 2010, the S&P 500 was higher 12 months later (6/6).
01
The breadth thrust indicator over time
Window:loading…
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10-day breadth EMA 0.615 thrust line 0.40 washout line thrust S&P 500 (right, log)
02
Every thrust since 2010 — and what the S&P 500 did next
| Thrust date | Days from washout | SPY +3m | SPY +6m | SPY +12m |
|---|---|---|---|---|
| Jun 15, 2010 | 6 | +0.6% | +11.2% | +15.5% |
| Oct 14, 2011 | 9 | +5.5% | +13.5% | +17.5% |
| Oct 18, 2013 | 8 | +5.6% | +7.7% | +9.1% |
| Feb 18, 2014 | 10 | +2.4% | +7.1% | +14.1% |
| Oct 8, 2015 | 7 | -4.6% | +1.4% | +6.9% |
| Jan 8, 2019 | 8 | +11.9% | +16.3% | +26.4% |
| Average | — | +3.6% | +9.5% | +14.9% |
Computed on our common-stock universe (~5,000 symbols, 2010+), not NYSE issues. Signal logic identical; universe differs. Forward returns use SPY closes ~63 / 126 / 252 trading days after each thrust. Six instances is a small sample — a strong record, not a guarantee.
How Zweig Breadth Thrust Works
- 1Measure each day's advance ratioFor every session we take the number of advancing stocks divided by the number of advancing plus declining stocks. A reading of 0.50 means an even split; above 0.50, advancers outnumber decliners that day.
- 2Smooth it with a 10-day EMAThe Breadth Thrust indicator is the 10-day exponential moving average of that daily ratio. Smoothing turns the noisy daily breadth into a regime read: a low EMA means breadth has been broadly negative, a high EMA means broad, persistent buying.
- 3Watch for the surge from washed-out to broad buyingA Zweig Breadth Thrust fires when the 10-day EMA climbs from below 0.40 (deeply oversold breadth) to above 0.615 (broad buying) within 10 trading days. The speed is the point — it marks the moment a beaten-down market flips to broad, urgent accumulation.
- 4Read the live statusWe label the current reading Neutral, Armed (the EMA is below 0.40, so a thrust becomes possible if breadth surges), or Thrust fired (a thrust triggered within the last 10 sessions). The table below shows every thrust since 2010 and what the S&P 500 did in the 3, 6 and 12 months after.
Who Uses Zweig Breadth Thrust
Long-term Investors
A breadth thrust has historically marked the early innings of durable advances. It is a rare, add-to-equities signal — not a day-trade — and one of the few breadth events with a strong forward record.
Tactical Allocators
Use the thrust as a regime confirmation: when a sharp selloff resolves in a thrust rather than a slow bleed, the bounce has historically had broad participation behind it, which is what separates a real low from a bear-market rally.
Risk Managers
The "Armed" state — EMA below 0.40 — is itself information: breadth is washed out. It flags the oversold backdrop from which thrusts launch, and from which sharp rebounds tend to come.
Market Historians
The thrust is one of the most-cited breadth signals in market lore. Having the live reading plus the dated history of every trigger makes it easy to check "is the Zweig Breadth Thrust flashing right now?" against the record.
Pro Tips
01
It is a starting gun, not a sell signal
The thrust marks ignition — broad buying off a washout. It says nothing about when an advance ends. Pair it with trend and breadth-deterioration tools for the exit; the thrust is purely an entry-context signal.
02
Rarity is the feature
Genuine thrusts are rare by construction — breadth has to collapse below 0.40 and then explode above 0.615 in two weeks. If the signal fired often it would be worthless. Treat a long gap between thrusts as normal, not as the indicator being broken.
03
Watch the "Armed" state
A thrust can only fire from a sub-0.40 base. When the live reading is Armed, the setup is loaded; a fast breadth surge over the next two weeks is what completes it. Most Armed periods do not resolve in a thrust — but every thrust starts here.
04
Cross-check participation
A thrust is most convincing when other breadth gauges confirm — new highs expanding, the advance-decline line turning up. A thrust on thin, single-sector strength is weaker than one with broad new-high expansion behind it.
Common Issues & Solutions
Why doesn't this match the classic NYSE Zweig Breadth Thrust history?▾
The textbook ZBT uses NYSE advancing/declining issues back to the 1940s. We compute the identical signal on our own common-stock universe (~5,000 symbols) with daily data since 2010. The logic is the same; the universe and the start date differ, so absolute trigger dates can differ slightly from NYSE-based versions. Reassuringly, our triggers line up with the well-known thrust dates (October 2011, October 2015, January 2019).
Why 0.40 and 0.615?▾
Those are Marty Zweig's original thresholds: 0.40 marks deeply oversold breadth and 0.615 marks broad buying. The thrust requires crossing the full distance between them within 10 trading days — the speed is what makes the signal meaningful rather than a slow drift higher.
The signal hasn't fired in a while — is it broken?▾
No. Thrusts are supposed to be rare — six since 2010. Long quiet stretches are normal; the indicator only earns its reputation by staying silent until breadth genuinely collapses and then explodes higher.
Frequently Asked Questions
What is the Zweig Breadth Thrust?▾
A rare, deeply bullish breadth signal devised by Marty Zweig. It fires when the 10-day exponential moving average of advancing ÷ (advancing + declining) issues climbs from below 0.40 to above 0.615 within 10 trading days — meaning breadth went from washed-out to broad, urgent buying in two weeks or less. Historically it has marked the early stage of durable market advances.
Is the Zweig Breadth Thrust flashing right now?▾
The live status at the top of this page answers that with each market close. It reads Neutral when breadth is mid-range, Armed when the 10-day EMA is below 0.40 (a thrust becomes possible), and Thrust fired when one has triggered in the last 10 sessions. The page also dates the most recent thrust.
How often does a breadth thrust happen?▾
Rarely — that is the point. On our common-stock universe there have been six since 2010 (June 2010, October 2011, October 2013, February 2014, October 2015 and January 2019). Long quiet stretches are normal.
What happened to the S&P 500 after past thrusts?▾
On our data, the S&P 500 was higher 12 months after all six thrusts since 2010, averaging roughly +15%. The 6- and 12-month forward records are the strongest part of the signal's reputation; the table on this page shows every instance. Past performance is not a guarantee — six is a small sample.
How is it calculated and how often is it updated?▾
It is the 10-day EMA of advancing ÷ (advancing + declining) issues, computed on our common-stock universe from daily closes and updated after every US market close. The thresholds (0.40 and 0.615) and the 10-day window are Zweig's originals.
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Advance-Decline Line
The daily advancers vs decliners this signal is built from
McClellan Oscillator
Breadth momentum — EMA19 − EMA39 of net advances
New Highs – New Lows
Fresh leadership vs fresh breakdown — confirm a thrust
Hindenburg Omen
The bearish breadth signal — the thrust's mirror image
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Last updated: 2026-06-25