On 04/29/22 the NYA made its lowest close since its decline began in early January 2022.
Yet the number of NYA stocks making new lows has decreased.
Additiionally the big price drop on 04/29/22 was accompanied by a big drop in new lows.
This decrease in new lows is coming at a time when bearish sentiment based on the CBOE ratio is at a two year high. Please see my prior
post about the CBOE - Put/Call ratio.
The combination of decreasing lows and extreme bearish sentiment could be the ingrediants for a significant stock market bottom.
Mark
Yet the number of NYA stocks making new lows has decreased.
Additiionally the big price drop on 04/29/22 was accompanied by a big drop in new lows.
This decrease in new lows is coming at a time when bearish sentiment based on the CBOE ratio is at a two year high. Please see my prior
post about the CBOE - Put/Call ratio.
The combination of decreasing lows and extreme bearish sentiment could be the ingrediants for a significant stock market bottom.
Mark