However it seems that we saw an artificial increase. For example, NASDAQ 100 went up 1.4%. This increase was made at a very high volume - 910 million shares changed hands.
What is strange enough - today as many as 141 issues made new lows (yesterday it was only 70 issues) and 14 issues hit new highs (nearly the same amount as yesterday). It is not a normal situation when indices go up (in such cases the number of new lows should go down).
Similar things happened to S&P 500. What is more, the chart below shows that today the big investors were selling their shares (descending Accumulation/Distribution line):
Now we are close to the medium-term lows. Usually at such levels stocks used to start a bounce up.
However, since January 21 the market does not want to go up. Well, in my opinion, the market is trying to tell something important and it seems that the info may be negative for those looking for another leg up...
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