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1) New lows for the $NYSE & $COMPQ reached the highest levels since December 2018, 696 & 563 respectively.
The 10 day differential went negative for both as well.
Now we watch the 30d diff...
The 10 day differential went negative for both as well.
Now we watch the 30d diff...
2) Last time the #NHNL 30 day differential went negative for both $NYSE & $COMPQ was October 10, 2018 (market dropped another 18% from that day, to low) and stayed negative until early 2019
This drop has happened quicker so the focus is on sustainability of a longer pullback.
This drop has happened quicker so the focus is on sustainability of a longer pullback.
3) The 30d differential never went negative in August 2019 so we didn't get the sustained pullback. The $NYSE stayed mostly positive with the 10d as well.
Both 30d diffs must go negative for a longer term pullback.
Both 30d diffs must go negative for a longer term pullback.
