Although nosotros had a real well for y'all bounce off the marketplace lows, that was presently erased yesteryear follow-up selling concluding week. As a result, the advance-decline draw of piece of employment for NYSE mutual stocks only, equally tracked yesteryear the fantabulous Decision Point service, has barely lifted off its lows (bottom pane, higher upward chart). On Friday, nosotros had solely 37 novel 20-day highs on the NYSE, against 383 lows. The previous day, nosotros registered 21 novel 20-day highs on the NYSE against 487 novel lows.
Among the forty stocks inwards my handbasket that are evenly divided with 8 S&P 500 sectors, none qualify equally beingness inwards uptrends yesteryear my Technical Strength measure, 3 are neutral (MO, JPM, WFC), together with the residual are inwards downtrends. Quite a chip of technical harm has been done to this market; it's going to stimulate got time--and greater follow through inwards buying interest--to contrary that.
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