The number of
new 52-week lows surged above 90 for the NYSE and Nasdaq (combined). This compares to fewer than 50 new 52-week highs. Selling pressure is taking its toll the last few weeks. Of note, semiconductor powerhouse Intel (INTC) graced the new low list today.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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