Update on last Wednesday's: The NYSE daily New Lows ... What are they saying now?
Every day, the NYSE publishes how many New Lows were listed on the NYSE.
Over 50 a day or trending up toward 50 is generally trouble. Over 150 and people are starting to get into a panic mind set.
In the afternoon of February 13th., the New Lows were only 4, so they showed no fearful selling at all.
Last week (on February 19th.) the New Lows were higher, but still nicely positive at 21. SInce only over 28 starts to become a problem, the 21 reading was still not showing any fearful or panic activity.
What happened yesterday? The New Lows closed at 31 which is technically a "lesser Positive" level.
So over a three week period, the New Lows have gone from 4 to 21, to 31.
The concern here should be about the possibility of a trend starting to build in the sequence of numbers. (The Caution to Danger levels are from 36 to 50, where above 50 readings are extreme danger to panic levels starting to appear.) So, be careful and keep an eye on the level of NYSE New Lows now. (For time saving, the daily New Lows chart is posted everyday on our Standard subscriber site.)
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