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I shared this in the Last Look Report today and its a bit eye opening. As things are going, 15% of the stock in the S&P 500 are down 20% or more from their 52-week high while the S&P 500 is about 1% down from its 52-week high. The numbers are larger for the S&P Midcap and S&P Small Cap. Analysts say this is a sign of a coming breakdown but others say there is opportunity in the lagging stocks.
The stock market is undergoing a slow motion deterioration with pockets of shares down 20% or more
The entire market is being moved by AI associated stocks. The top five are head and shoulders above the rest. Below the top 100 by weight and it really doesn't matter what they do on a daily basis.
https://www.slickcharts.com/sp500
Sentiment shows a bullish setup and big stock momentum is starting to as well. Not a buy yet on any metric, but making progress.
Attachment 58963Quote:
38.6% of large cap stocks have a bullish momentum divergence. Getting close to 40%, which has been historically significant level.
https://twitter.com/AndrewThrasher/s...877222043711?s