Last week everyone was freaking out over that NYSE new lows chart — classic bear porn! 🐻
But here's the thing: IT WASN'T REAL!
If you actually dig into the data on COMMON STOCKS ONLY, new lows have been basically NON-EXISTENT. Zero. Nada.
What happened? The NYSE composite includes closed-end funds, bonds, preferreds — all that junk skewed the numbers and made it look like the sky was falling.
Bottom line: You can't have a real market meltdown when actual stocks aren't making new lows! This is why you always check the real data before panicking.
Don't get fooled by misleading charts. The tape is stronger than the noise. BOOYAH! 📈
But here's the thing: IT WASN'T REAL!
If you actually dig into the data on COMMON STOCKS ONLY, new lows have been basically NON-EXISTENT. Zero. Nada.
What happened? The NYSE composite includes closed-end funds, bonds, preferreds — all that junk skewed the numbers and made it look like the sky was falling.
Bottom line: You can't have a real market meltdown when actual stocks aren't making new lows! This is why you always check the real data before panicking.
Don't get fooled by misleading charts. The tape is stronger than the noise. BOOYAH! 📈
