High/Low Index confirming market breadth breakdown
Here is a shot of Lazybear's beautifully colored High/Low Index.. That massive red area on the left is the original March 2020 Covid drop. Notice how it's pretty clear sailing all the way until..... now. We haven't even hit the bottom yet, but you can clearly see we're in the danger zone where securities making new 52 week lows are vastly outpacing ones making new 52 week highs. This is a pretty dire market breadth indicator, and anyone who's been following the Russell 2000 is already well aware of what's happened the last two weeks, with the 4th fastest time EVER going from a record high to formal correction status.
Anyone heard of the Hindenburg Omen? Well, you should make yourselves very aware of it.
Anyone heard of the Hindenburg Omen? Well, you should make yourselves very aware of it.
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