Jason Goepfert

Depends on the definition of "banks," but financials in general are off about 6% as the S&P $SPY nears a new high. This is an "almost necessary but not sufficient" warning sign. It triggered before almost every major decline...but too many false signals in between. https://t.co/odQVt2LwAd https://t.co/uvYxpo6RFZ

Look, I know...perma-bear blah blah blah. But this is crazy stuff. There are 2 days in history like today, when the S&P 500 $SPY rallied at least 1% to within 1% of a new high, and more of its stocks fell to new lows than highs. • Jul 23, 1929 • Dec 21, 1999 https://t.co/vMcZ9FasMJ https://t.co/yBvtgtPJh9

Look, I know...perma-bear blah blah blah. But this is crazy stuff. There are 2 days in history like today, when the S&P 500 $SPY rallied at least 1% to within 1% of a new high, and more of its stocks fell to new lows than highs. • Jul 23, 1929 • Dec 21, 1999 https://t.co/vMcZ9FasMJ https://t.co/yBvtgtPJh9

We've never in almost 100 years seen breadth this bad. The S&P $SPY is knocking on new highs but there are (many) more stocks at lows than highs. The percentage of stocks in long-term uptrends is plunging. The only remotely similar setups were January 1973 and November 1999. https://t.co/H6Ik4sH9Zu

We've never in almost 100 years seen breadth this bad. The S&P $SPY is knocking on new highs but there are (many) more stocks at lows than highs. The percentage of stocks in long-term uptrends is plunging. The only remotely similar setups were January 1973 and November 1999. https://t.co/H6Ik4sH9Zu

@CarloFerlauto Valid questions, and ones that anyone should ask when they see a backtest. I used 5% drawdown for SPY (within what is typically considered pullback territory) and a standard 52-week low for the A/D line.

Traders seem anxious to hold overnight all of a sudden. $SPY has closed in the bottom half of its range almost every day for two weeks. Very unusual. It's never happened so close to a high. https://t.co/E6vQ2eCxEn

Yeah, it happened. More than 3 times as many securities hitting 52-week lows as highs on the NYSE. Hasn't preceded great returns for the S&P. https://t.co/14Mi6t2Mp4

The S&P 500 $SPY is less than a week and 2% from record highs. And already there are 3x more new lows than highs on the NYSE. Last time that happened was Dec 14, 2021. We'll see if it holds into the close. It's not exactly a great longer-term sign. https://t.co/Hxs9QeFnKl

The S&P 500 $SPY is less than a week and 2% from record highs. And already there are 3x more new lows than highs on the NYSE. Last time that happened was Dec 14, 2021. We'll see if it holds into the close. It's not exactly a great longer-term sign. https://t.co/Hxs9QeFnKl