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New Highs - New Lows Index

Under the hood the damage on the New High - New Low Index has exceeded the Japanese Yen Carry Trade in August correction and every other pullback and correction in the last few years once it has reached this extreme has generally marked local bottoms 

The indicators within this index are signaling the same divergences that have led to bounces out of the local bottoms mentioned above with RSI hitting its extreme low and setting higher lows since, and MACD is coming off an extreme low too and in a bullish cross

More than the indicator this index hit -230 and that level is extreme and showing a washout 🤔 

Not financial advice!

Much love 💛🍌🍌🍌