In our previous article we wrote about how we are seeing some early signs of capitulation. It is still not the capitulation we would have liked to see as it still is not hitting assets at the same time.

We are adding two observations to the puzzle.

NYSE 52-week low index is exploding further. It is still not as extreme as we have seen it spike during 2015/16, but it is getting rather extreme.

TRADPAUS index, that we wrote about earlier this week, continues imploding. The index, measuring the percentage amount of stocks above the 200-day average, is now trading at practically the same levels we saw during the lows post the selloffs in 2015/2016.

We are watching patiently as the SPX approaches the big 2400 level…

Source: charts by Bloomberg