TradingEdge for Jan 28 - More stocks cut in half, a jump in new lows, sentiment getting pessimistic
This week, we saw more poor trading activity, and another jump in stocks cut in half from their highs. There has been a historic spike in 52-week lows on the Nasdaq, and lows are rising among high-yield bonds and the S&P 500. That has caused a quick drop in sentiment, now at pessimistic extremes. But the environment is poor, and the Treasury Bear Flattener doesn't help.
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