Market breadth getting ugly? Defense looking solid? These are the patterns that caught traders' attention lately. When bad breadth shows up, it usually means trouble—fewer stocks driving the rally, fewer legs to stand on. Meanwhile, defensive plays keep outperforming, which tells you something about where smart money's positioning. And then there's that dash-for-trash phenomenon: investors scrambling into beaten-down, lower-quality assets when risk appetite heats up. It's a classic rotation tell. Institutional traders—especially at the big desks—watch these three charts like hawks because they often signal what's coming next in the market cycle. Bad breadth warns of potential weakness, defensive strength hints at caution underneath the surface, and trash rallies? They can be both opportunity and warning, depending on what else is lining up.