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US Stock Market Internals (Update) – A Retesting Of The Low Seems Likely

US Stock Market Internals (Update) - A Retesting Of The Low Seems Likely by Eric Bush, CFA, Gavekal Capital Blog

Today, we wanted to update (with some additional charts) of a post from Monday on the stock market internals for the US market. The whipsaw nature of the market this week can easily be seen in the market internal charts. The key takeaways are 1) stocks quickly bounced from oversold levels 2) most indicators briefly hit the lower end of the 2011 selloff levels 3) 2008 selloff levels remain far off 4) a retesting of the lows seems likely as the bounce has been extremely fast and usually more time is needed before a low is made. All data is updated as of 8/27/2015.

After hitting a low of 90%, currently 65% of US stocks are in a correction over the past 200-days. We hit this percentage of stocks in a correction in 2012 and 2014. At one point in 2011, 96% of US stocks were in a correction and we went about two months where at least 80% of stocks remained in a correction. In October 2008, fully...


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