Freep: Like I said, it was a snapshot for fun and all the snapshot arguments apply.
Now I wanted to focus on closing figures on the nasdaq and not intraday gap and craps as that might distort a snapshot comparison if the crap is 3/4s of the day. The fact that we went 2% higher on August 22nd is not helpful to a bull's point of view. In fact, an August 22nd snapshot does not help as the 276 new highs fell short of those on August 21st of 320. In passing that day up, I gave the bulls a break to spare them the crap portion of the day. So I found a better day to compare today with where we closed at a recent comparable high on an up day. And it is only a snapshot.
In general though, if we move higher here on weakening leadership, it becomes more and more precarious.
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