Today’s Chart of the Day was shared by Andrew Thrasher (@AndrewThrasher). It's a chart of the Nasdaq 100 over the past two decades. As of yesterday's close, 95% of Nasdaq 100 stocks were above their 20-day moving average, while less than 45% were above their 200-day moving average. Andrew points out that there have only been three prior instances where short-term breadth was this strong while long-term breadth was this weak. Yes, the sample size is small. But all three prior instances occurred at major lows in 2009, 2018, and 2020.
Chart of the Day - Wednesday, March 23rd, 2022
March 23, 2022
