Chart of the Week: Nasdaq 52 Week High Lows

Over the intermediate term, market risk has made its first
significant shift in quite a while: it is moving from a neutral/bearish posture
to a neutral/bullish position.

Nasdaq 52 Week High Lows




As seen above the 52 week new high-new low index (orange
circles) is at levels that in the past few years have marked

interim lows. Given the lack conviction in the new high-low
index now versus 2003 (when things were just getting started) the market still
has work to do to prove this current oversold rally attempt is significantly
more than that.


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Quote of the Day:

“People’s spending habits depend more on how wealthy they feel than with
the actual amount of their current income.”    –A.C. Pigou

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