The 10-day MA of new highs-new lows on the NASDAQ (green
line) is still trending below the zero line. While it can gauge oversold levels
is also suggests that conditions are weak and deteriorating.

Nasdaq Comp: 52 Week Highs/Lows
click for larger chart

Nasdaq_comp_high_lows_32805

Source:
Technimentals

Kevin Lane observes “After breaking an accelerated up trend
the S&P 500 is probing the January lows (towards 1,160). Some where in and
around these levels as the S&P tests a secondary up trend line and support
we would suggest the market will try to at the very least make a shortterm
bounce.”

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Quote of the Day:

"For every complex problem, there is
a solution that is simple, neat and wrong.”
-H.L. Mencken

Category: Markets

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.

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