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Seth Golden posted an update 3 years ago
Following the pattern of breadth weakening last week, drawdown data also wasn’t supportive of the new all-time high in equities. We’re now back to 37% of large cap stocks down double-digits, 12% are
off by at least 20% and the average stock is down 9.3%. As I’ve said before, we don’t want to see the average drawdown creep back to 10% and the way breadth data is shaping up, it looks like that’s a
possibility.
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