Nasdaq new 52-week lows expanding

New 52-week lows are expanding on the Nasdaq and new 52-week highs are drying up. Net New Highs (new 52-week highs less new 52-week lows) is an easy way to assess the battle for new 52-week extremes. Net New Highs first dipped below -100 in early May and has dipped below this level four more times since then. An uptrend is pretty much impossible as long as Net New Highs remain negative.

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