The raw net new high index is below the May levels that recorded the NASDAQ’s most recent trough and the 10-day series (orange line) is also below the zero line.
Mixed Picture: Nasdaq 52 Week Net New Highs
Click for Larger Chart
While this is suggestive of oversold levels, it also is a sign of tape weakness.
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Quote of the Day
“As I’ve said many times: the future is already here; it’s just not very evenly distributed.”
- William Gibson, The Science in Science Fiction
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.