Chart Of The Day: ‘This Won’t End Well’

Bad breadth.

It’s a problem.

We’ve talked about it a lot. Specifically in the context of i) the equal-weighted S&P versus the regular S&P, ii) the Russell versus the S&P, and on Thursday, iii) the equal-weighted Nasdaq versus the regular index.

For those interested, here are those posts:

With the visuals and color from those pieces as the context, consider this chart:

HighsLows

See why that’s a problem?

The last three times the S&P has risen, new 52-week lows on the NYSE have outnumbered new 52-week highs.

Simply put: this likely won’t end well.

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