The Nasdaq new highs minus the new lows fell to record low numbers indicating a wash-out. The COMPQ bounces higher. Prior rallies were not that impressive except for the March rally. It led to the positive number in the NAHL (there were more new highs than lows a topping signal) when stocks are spanked downwards (red circle). The all-time record high in the stock market was the start of the year when the NAHL turned positive and down she went.
The bounce in May was predictable but the magnitude remains a mystery. Bulls are hoping a rally like March begins and they may have the wind at their backs as China relaxes covid restrictions and the economy recovers. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
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