Another one for the bears. 👇
$S&P 500(.SPX)$ just logged 10 straight sessions with more 52-week lows than 52-week highs while sitting within 2% of its highs.
That’s an unusual divergence.
Since 1990, this has happened only two other times:
December 1999
January 2000
Both occurred right around the peak of the Dot-Com Bubble.
Does that mean the market is about to repeat 2000?
No.
But when the index is sitting near highs while breadth underneath is deteriorating this aggressively, it’s a signal worth paying attention to.
Bears have a data point.
Now they need the price action to confirm it.
Markets are always moving - and sometimes, the best move is knowing what works for you.
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