Wed June 15, 2022
The XLI ETF is a great proxy for the Dow Industrials. ONe can see the double top of Nov and January and now the gaps from maximum mood nearing the end of the sell off.
PMO is folling over atain and it may well take until sometime next week to start bottom fishing for a ocunter trend rally.
Check out page B 11 in today's WSJ, it is the list of new lows, wow. Again we are getting to a bottom.
I am going through my list of major ETFs and they all show gaps the last four days. FANG has been cut from 8,00 to 4,750 since November.
NYSE new Lows are getting to the extreme that has marked previous bottoms
Here is a comparison of new lows going back to the covid sell off March 2020
Looks like the covid extreme was around 2,000. and we are at 850 now
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