Interesting, but only 1 stock on the S&P 500 made a new 10-day high last Friday. As of last night, 16 made a new 10-day high. This in the face of a 5-day losing streak.

Earlier this week, less than 10% of the stocks in the S&P 500 were above their 20-day MA. That is wash out territory. That was the lowest level since Oct of last year, but even more interesting is price made new lows, but stocks above their 20-day MA actually improved. pic.twitter.com/4XrwsE89Iw

US equity valuations are still high relative to the macro environment, Goldman says. Measured by gap between actual Shiller cyclically-adj S&P 500 P/E ratio and the “macro-consistent” Shiller P/E predicted by Goldman macro model of equity valuations, US stocks are 40% overvalued. pic.twitter.com/P4TBVdNZ1q

The last couple of Fridays have brought no joy to stock markets. #NASDAQ down 2%. pic.twitter.com/yXMHrVZ0Jv