The daily chart is showing market sentiment from a breadth perspective: the percentage of stocks on the NYSE (2943 stocks) that are above their daily moving averages. The trend is increasingly bullish but that increase has peaked in recent days.
[bDetail:
MMTH - RED - Percentage of stocks above their 200 DMA MMOF - Percentage of stocks above their 150 DMA MMOH - Percentage of stocks above their 100 DMA MMFI - GREEN - Percentage of stocks above their 50 DMA
Average of all 4 - WHITE line EMA10 of the white line - ORANGE line
All 4 indicators and their mean are above the midline with positive momentum . That momentum has peaked in recent days and is no longer accelerating.