New Lows Decreasing

02/27/2009 10:03 am EST


Thomas Aspray

, Professional Trader & Analyst


The number of stocks making new lows peaked last October at 2,476 and declined to 1,404 at the November lows. Last week, as the NYSE Composite retested its lows, the number of new lows was just 553. This is an encouraging sign if you recall how the declining number of new highs helped to identify the October 2007 highs.

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