Monday, June 30th. - Stock Trends, Charts, and Commentary
Market drops and New Lows ...
One of the factors associated with market drops is the rising trend of New Lows on the New York Stock Exchange.
The chart below goes back to last March. When the level of New Lows is below 50, conditions are good. When the level of New Lows is below 28, the market is strong to the upside. Go above those number and there is trouble, especially when you reach over 100 New Lows per day.
If you look at the chart, you can see how we have had a sharp up trend of New Lows in the past few weeks. Last Friday's number was the highest level that we have reached since March. Keep an eye on the trend of New Lows as one of the clues as to whether the market is safe or in trouble.
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