Market breadth indicators we should know for NASDAQ and NYSE

What is market breadth indicator?

This is an indicator which will give you overall market direction in a long term. These are just moving averages of overall market tickers combined. They start with MM if it is NASDAQ and MC if they are NYSC. These are non-tradable tickers used by TradingView (and some platforms) to monitor internal market strength or breadth across the NASDAQ and NYSE exchanges respectively.

🧩 Key Difference: MM* vs MC*

Prefix	Exchange	Description
MM	NASDAQ	Market breadth data for Nasdaq
MC	NYSE	Market breadth data for NYSE

📘 Explanation of Each Suffix

Let’s break down what each of these indicators mean, and apply the pattern across both MM* and MC*:

Suffix	Meaning	Example (NASDAQ)	Example (NYSE)
FD	% of stocks Above 5-Day MA	MMFD	MCFD
TW	% of stocks Above 20-Day MA (3 weeks)	MMTW	MCTW
FI	% of stocks Above 50-Day MA	MMFI	MCFI
OH	% of stocks Above 100-Day MA	MMOH	MCOH
OF	% of stocks Above 150-Day MA	MMOF	MCOF
TH	% of stocks Above 200-Day MA	MMTH	MCTH

🔍 Example Breakdown:

🔵 NASDAQ: 

MMFI

• This shows the percentage of NASDAQ Composite stocks trading above their 50-day moving average.

• If it’s at 80, it means 80% of Nasdaq stocks are above their 50DMA → strong market momentum.

🔴 NYSE: 

MCFI

• This gives the same info as MMFI, but for NYSE-listed stocks.

---

🧠 How to Use These in Trading

1. Market Breadth Confirmation

• Use them to confirm market strength:

  • Index rising, breadth rising = strong rally.

  • Index rising, breadth falling = rally with weak internals → caution.

2. Spotting Divergences

• Breadth weakening while price still climbing? Possible top forming.

• Breadth improving while price stalls or dips? Early signs of reversal.

3. Overbought/Oversold Zones

• < 20% = oversold territory → bounce likely.

• 80% = overbought → pullback possible.

---

✅ Summary

Code Pattern	Market	What It Tracks
MMFD–MMTH	NASDAQ	% of NASDAQ stocks above X MA
MCFD–MCTH	NYSE	% of NYSE stocks above X MA