A Smattering of Positive Divergences
On Friday, I posted several times intraday about the session's statistics, but let's take some time here to sum up what we saw.
First, for the first time in weeks, the number of stocks making new lows contracted by a wide margin -- and this occurred even as the S&P 500 was putting in a lower low. Thursday saw 272 stocks making new 52-week lows, while 156 new lows came through Friday. In addition, the Hi-Lo Indicator finally dipped under 20% -- which, as a reminder, puts this indicator in oversold territory for the first time since June....348 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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