Another day goes by in the market, and more selling came in.
Investors are making a habit of this whole selling thing.
You notice?
In yesterday’s trading we saw the fewest amount of stocks in longer-term uptrends since mid-December. We also had the fewest stocks in short-term uptrends since mid-November.
You may not see the selling pressure as much at the index level, but for those of you who actually take the time to count what the stocks themselves are doing, you know.
Take a look at the new highs list, essentially non-existent throughout the month of January, even with the S&P500 and Dow hitting the highest levels ever.
You can also see the divergences in Consumer stocks, Small-caps and Emerging Markets currencies: