Be careful folks. Yes, there have been a smattering of 1000+ ticks today and the Dow is higher, but market internals are crummy.
Looking at the NYSE, breadth is bad - running at 25 to 7 negative which is a broad based sell off. Volume breadth is also in bad shape with declining volume running ahead of advancing by a 746 mln to 167 mln. So far today new lows has eclipsed new highs by a margin of 107 to 26.
Nasdaq breadth is 21 to 7 negative as well with over 150 new lows, 47 new highs.
2 comments:
Yes I have seen the whipsaw like action. The close maybe back where we started today?
ALready back to little changed on the Dow. close could be worse if breadth and other internals don't get better.
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