JC Parets & Tom Bruni, All Star Charts on
the topic of Percentage of New 52-week price lows -
In this post I want to share two charts from the weekend update
of our new Market Internals workbook,
both of which confirm the continued deterioration in
breadth as US Stocks make new lows.
It's when breadth diverges positively that new pivot lows
can be formed and long trades can be entered into to.
We're just not there yet. Quite the opposite in fact.
We're seeing breadth expansion to the downside, not improvement:
https://allstarcharts.com/breadth-continues-confirm-price-lows/#more-91537
excerpts -
the percentage of 52-week lows in the Russell 3000,
which has expanded to three times what
it was during the Q1 2018 correction and has hit levels
not seen since the Financial Crisis (which peaked at 28%)
the number of Russell 3000 stocks with momentum
in a bearish regime, which now sits at nearly 50%
the topic of Percentage of New 52-week price lows -
In this post I want to share two charts from the weekend update
of our new Market Internals workbook,
both of which confirm the continued deterioration in
breadth as US Stocks make new lows.
It's when breadth diverges positively that new pivot lows
can be formed and long trades can be entered into to.
We're just not there yet. Quite the opposite in fact.
We're seeing breadth expansion to the downside, not improvement:
https://allstarcharts.com/breadth-continues-confirm-price-lows/#more-91537
excerpts -
the percentage of 52-week lows in the Russell 3000,
which has expanded to three times what
it was during the Q1 2018 correction and has hit levels
not seen since the Financial Crisis (which peaked at 28%)
the number of Russell 3000 stocks with momentum
in a bearish regime, which now sits at nearly 50%
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