09/11/17

This Has Never Happened Before To The Nasdaq



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This Has Never Happened Before To The Nasdaq
// Silver For The People

zerohedge.com / Via Dana Lyons' Tumblr / Nov 8, 2017 2:46 PM

No 52-week high in the Nasdaq 100 has ever been accompanied by as few advancing stocks as today's.
As most readers know, we are big proponents of strong breadth, or participation, in signifying healthy markets. When rallies are accompanied by a large swathe of advancing stocks, it is more likely to go further and last longer than those coming on the back of just a relatively few stocks. As such, it was encouraging to see the significant level of participation during the August-October stock market rally. Recent efforts, however, have not been so robust.

Today's action on the Nasdaq exchange is Exhibit A. On the one hand, the Nasdaq 100 (NDX) managed to rally – again – closing at a new all-time high – again. Despite the new high, however, the breadth on the Nasdaq read as follows (according to our vendor):

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The post This Has Never Happened Before To The Nasdaq appeared first on Silver For The People.


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