POPA ReconThis is highly unusual:
This is highly unusual: The S&P 500 is trading more than 2 standard deviations below its 50-day moving average, the first such occurrence since April. Such a reading puts the S&P 500 in historically extreme oversold territory. At the same time, only ~17% of the index’s stocks are now oversold, near its lowest proportion since July. Meanwhile, ~47% of stocks are now overbought, the highest proportion since early February. This figure has more than doubled since the start of October as many stocks have rallied beneath the surface. The broader market looks far healthier than the S&P 500's…
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