A technical analysis technique, used to anticipate the whole market tendency, by comparing the number of all advancing companies and all declining companies.

If the number of upward moving companies is greater than the number of companies on downward path, it can be a good indicator that the market as whole is bullish. On the other hand, market is considered bearish if there is a greater number of declining than advancing companies.

Often, technical analysts are comparing the number of companies that achieved their 52-weeks high, related to number of companies that experienced their 52-weeks low, and based on that numbers oversee the market.