Last week’s Market Update – Showtime! – announced that the time had come for a sell-off in equities and we were not disappointed as the Dow lost over 234 points (worst week since March). Internal indicators now point to a pause in the decline. It’s now time for a short Intermission.
One of those indicators is the total number of unchanged issues divided by the total number of issues traded (NYSE). It reached a low on Thursday indicating a low in equities.