Buzz & Banter
There's been a sharp drop in the daily "new highs" list for both the S&P and Nazz!
Heads up Minyans--
Last week was the sixth time since 1997 that the S&P has made a new high (vs. its prior week) and then closed below the prior week's low (an "outside week down" reversal). In each of the five other instances, the following week (read: this week) was dominated by lower prices.
Not sure if it's today's business, per se, but it certainly lines up with some other divergences in the marketplace.
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