During the multi-week trading attain that we've seen for much of Nov in addition to hence far inward December, nosotros tin encounter that 20-day highs accept by in addition to large outnumbered lows (top chart), amongst the Cumulative Demand/Supply mensurate (middle chart) squarely inward neutral mode. This suggests that nosotros are neither meaningfully overbought or oversold amongst honour to the let on of stocks trading inward a higher house or below the volatility envelopes surrounding their moving averages.
We tin besides encounter from the advance/decline business for NYSE mutual stocks--a real prissy display from Decision Point--that nosotros accept seen real footling deterioration inward the wide marketplace set despite the recent weakness of pocket-sized caps in addition to the extended trading range. If that A/D business stays inward a higher house its slowly Oct lows in addition to novel highs conk on to outnumber novel lows, I would persuasion the recent corrective activity every bit a springboard from which nosotros could encounter meaningfully higher prices.
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