Tiptoeing Towards the Exits

The number of stocks trading on the NYSE that are making new lows is on the rise. I have been highlighting this trend for months now and the broad deterioration ‘under the hood’ continues. The trend unfolding is similar to what occurred in advance of the 2008 stock market collapse and also the less severe stock market correction of 2015. The length and depth of the correction is unknowable in advance, but we are headed towards lower stock prices in the months ahead. What has surprised me most is how complacent investors have been in 2018 and how telegraphed the warning signs are. Time is running out now for the bulls, at least for a while. Caution advised.

 
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