Updated look at a previous chart of the NYSE New High minus New Lows. Displayed on the chart is the 15 day moving average.
The 15 day average recently has turned lower at a similar point as in 2011. In 2011 after turning lower, SPY went on to make a new low for that pullback. Whether a 2011 type correction or something much larger is coming, the NH's-NL's appear to be suggesting a new low or retest of the Aug low could be coming.
The 15 day average recently has turned lower at a similar point as in 2011. In 2011 after turning lower, SPY went on to make a new low for that pullback. Whether a 2011 type correction or something much larger is coming, the NH's-NL's appear to be suggesting a new low or retest of the Aug low could be coming.