Zeev, actually, new lows are increasing, though at a slightly slower rate than they did during the last leg down from Jan 9 to Feb 22.
During the Jan-Feb drop, the Naz made a total of 1273 new lows while dropping a little over 402 points.
So far on this drop, (between March 11 and April 9), the Naz has made a total of 615 new lows while dropping a little over 203 points.
As far as new lows are concerned, we seem to be at about right where we were on Feb 4. Here are charts of the new lows from the two periods for comparison purposes:
March 11 - April 9 stockcharts.com[l,a]dhllynay[d20020311,20020409][pf]&pref=G
Jan 9 - Feb 22 stockcharts.com[l,a]dhclynay[d20020109,20020222][pf]&pref=G
The new highs situation is different.
During the Jan-Feb drop, the Naz recorded 2206 new highs. (I find it interesting that even during that drop, advancers beat decliners by 22:12. Is this unusual?)
During the present drop, the Naz has already recorded 2600 new highs, compared to 615 new lows. And the rate of new highs does seem to be picking up, but not by much, at least on a weekly chart.
New highs from Jan 9 - Feb 22 stockcharts.com[l,a]whclynay[d20020109,20020222][pf]&pref=G
New highs from March 11 - April 9 stockcharts.com[l,a]whclynay[d20020311,20020409][pf]&pref=G
I have no idea what this means, but it smells vaguely rotten.
augieboo |
