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VOO - Monday's Rare Selloff: What Could It Mean For Stocks
Vanguard S&P 500
Bounce Attempt Possible In Coming Days
According to breadth data from stockcharts.com, Monday’s intraday low was the lowest NYSE Advance-Decline Volume reading in history. Given total market volume has changed significantly over the past 80 years, it is more relevant to compare Monday’s selloff to the recent past (chart below).
The last intraday reading in the ballpark of Monday’s came on December 24, 2018. We all know Christmas Eve 2018 marked an important low. Is it possible for a market that reached such an oversold state to keep dropping? Yes, however, from an odds