When Will The Market Move Higher?
There were a lot of new 52-week lows again today. When the market is ready to move higher, the number of new lows will drop off dramatically.
Until then, with new lows at these elevated levels, it means the market foundation is weakening, and the general market is more likely to move lower.
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This chart continues to favor the bulls. The market isn't going significantly lower unless this index breaks down.
(Click on image to enlarge)
The Leader List
Today's leaders list. No changes.
Outlook
The long-term outlook is positive.
The medium-term is down as of Aug-10. Looking for a low mid to late September.
The short-term trend is down as of July-28.
Disclaimer: I am not a registered investment advisor. My comments above reflect my view of the market, and what I am doing with my accounts. The analysis is not a recommendation to buy, ...
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Thanks for the insight. Some people may not know this factoid.