Stocks Hitting New Lows Dominate New Highs By Widest Margin In 18 Months

By Tomi Kilgore Markets MarketWatch Pulse

The S&P 500 is bouncing 0.3% Friday, from a one-month low in the previous session, but the number of stocks that have hit new 52-week lows in intraday trade continues to dominant the number of stocks reaching new highs. Within the index, there were 15 stocks that have hit new lows and just 3 that have reached new highs. Of all the stocks listed on the New York Stock Exchange, new lows are outnumbering new highs by 166 to 23. That 143-spread of new lows over new highs is the widest since Feb. 11, 2016, when there were 674 new lows to just 32 new high. On the Nasdaq, the spread is a little narrower Friday, at 91 new lows to 18 new highs. Meanwhile, the S&P 500 was down just 1.9% from its 52-week intraday high of 2,490.87 on Aug. 8, and 17% above its 52-week low of 2,083.79 on Nov. 4.

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