real-time news and commentary for investors
Wednesday, Aug 28
Technical signal suggests end of correction near
- The stock market printed a 90% down day yesterday - 92% of NYSE volume was in declining stocks, says Miller Tabak's Jon Krinsky. Readings above 90% are rare and have occurred just 5 times this year.
- While all of these reads came near the correction low, "it is important to note that each time the initial instance was not THE LOW for the correction," says Krinsky.
- Stock index ETFs: IVV, SPY, VOO, RWL, SFLA, SSO, UPRO, SDS, SPXU, SH, EPS, RSP, BXUB, BXUC, BXDB, QQQ, QQEW, TQQQ, QID, SQQQ, PSQ, QLD, QQQE, DIA, DDM, UDOW, DXD, SDOW, DOG.
- Total U.S. market ETFs: IYY, VTI, EXT, TOTS, EUSA, ITOT.