As the nautical chart higher upward shows, the high-low breadth has been trailing for a piece now, simply has larn unusually weak recently. My information demo that novel 52-week highs for all NYSE shares were 370 inwards early on June of this year; 365 on July 1; in addition to 231 on September 2nd. Small cap shares are good behind their bull marketplace highs. Incredibly, alone 39% of SP 600 pocket-size cap stocks are trading higher upward their 200-day moving averages, piece that release is 55% for SP 400 mid caps in addition to 73% for SP 500 large caps. (Data from the Index Indicators site). Plenty of stocks are non inwards bull markets, though you lot wouldn't know it from the large cap averages.
Meanwhile, the USA Dollar is ripping higher, every bit investors anticipate higher rates inwards the USA than inwards Nippon in addition to Europe. Bonds accept been selling off, besides inwards anticipation of higher rates. Most international stock markets are good off their highs (FEZ, EFA).
Important shifts are occurring across property classes in addition to stock marketplace internals accept been weakening inwards response. With my cycle measures close peaks, the chips accept come upward off the table.
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