The Worden T2108 is now at 46%, lowest since late November. T2108 measures the percentage of NYSE stocks closing above their average price over the past 40 days. It bottomed out at 17% last November at the bottom of the market’s decline in late 2012 (see weekly chart below). IBD now calls the current up-trend under pressure. We need to watch very carefully for signs that the market weakness will continue. I am not taking on any new long positions.
