December Of Discontent

It doesn’t officially start until tomorrow, but already it has been a December of discontent for bulls as breadth has been negative for a record 14 straight trading days and looks likely to extend that streak to 15.  This kind of consistent broad weakness is unprecedented, and it’s reflected in the performance of the eleven sector ETFs and where they’re trading relative to their short-term trading ranges. Every one of them is down at least 2% in the last five trading days, and three have dropped at least 6%. Just two sectors headed into today above their 50-day moving averages, and seven have dropped into oversold territory, including six in ‘extreme’ oversold territory (more than two standard deviations below their 50-DMAs).


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Disclaimer: Bespoke Investment Group, LLC believes all information contained in this report to be accurate, but we do not guarantee its accuracy. None of the information in this report or any ...

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