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.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.
