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Market Pause Still Long Way From Buying Opportunity

Published 02/23/2017, 12:03 AM
Updated 07/09/2023, 06:31 AM

Nothing really to add about yesterday. Markets took minor hits, but there was little intraday spread. The biggest spread was in the Russell 2000 which was underperforming heading into yesterday's session. It reversed most of Tuesday's gains, but it has some way to go before it begins challenging the breakout

RUT Daily


The New Lows and Highs is in a secular bullish pattern, and it will take continued pressure in spike lows to generate a sustained sell off - none of which is happening here.

NYSE New 52 Week Lows vs SPX and COMPQ 2007-2017


But markets are a long way from a buying opportunity too (below, NASDAQ Composite):.

COMPQ Monthly 1996-2017

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