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User Info 2021: The Year In Review, And A Wee Light In The Tunnel; entered at 2021-12-29 18:02:33
Posts: 95
Registered: 2021-04-30

Maybe the stock market is crashing right now.

Its December 1999 Based on the NYSE Shares Touching New Lows

Vildana Hajric
Mon, December 27, 2021

Last week, when the S&P 500 closed at a 52-week high, 334 companies trading on the New York Stock Exchange hit a 52-week low, more than double the amount that marked new one-year highs. Thats happened only three other times in history -- all of them in December 1999, according to Ramsey, who is chief investment officer for Leuthold Group.

And its not just a one-week phenomenon: NYSE new lows now also outnumber new highs on a six-week moving-average basis. The last time that happened as the S&P 500 hit a one-year high was in July 2015, right before a six-month correction that saw the index lose around 14%.

Few things stir agita for traders like comparisons to 1999 crash times. But Ramsey says that his analysis doesnt mean a correction is imminent. The smoothed-out six-week moving-average condition happened several times throughout 1999 up until March 24, 2000, when it proved to be the final nail in the coffin.

The trouble is these warnings can persist for several months before the blue chips finally take a hit, he said.

2021-12-29 18:02:33