"An Incredibly Important Turning Point" - The Daily Reckoning
“An Incredibly Important Turning Point” Fact #1: Reams of stocks have been trading at 52-week highs. Fact #2: Reams of stocks have been trading at 52-week lows. Not since 1984 — the year not the book — has the stock market manifested such violent schizophrenia. Sentiment Trader: [We recently saw] the biggest split in almost 40 years. There were so many stocks hitting 52-week highs AND 52-week lows on both the NYSE and Nasdaq that it registered the 2nd most extreme reading since 1984. Thus we find the stock market a riot of warring signals… A traffic light flashing red and green both...
Source: dailyreckoning.com