The number of
NYSE stocks making new 52-week lows on Wednesday [Feb. 20] was 40, which was
the highest number November 16. There were 43 new lows on Thursday.
Remember that 40 new lows is the historical dividing line between a healthy and
an unhealthy market. A few days of more than 40 new lows would indicate
an unhealthy amount of internal selling pressure and a possible interim trend
reversal, so we’ll need to watch this indicator closely in the next few days.
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