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
Source: Technimentals

While this is suggestive of oversold levels, it also is a sign of tape weakness.

Random Items:
Earnings woes unsettle Silicon Valley
Why Dollar Worries May Be Just a Distortion
Market Forecast Takes a Long View, and a Dismal One It Is
9/11 Commission Finds Ties Between al-Qaeda and Iran
In defense of lawyers
The Man Who Invented Flying Saucers
Enron, Texas, and the Upcoming Election

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

Category: Finance

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.

Comments are closed.