#48: Jim Stack On Charting A Course Through Stock Market Rapids
Superinvestors and the Art of Worldly Wisdom
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The Importance of Negative Leadership Composites in Asset Allocation
A lot of the tools on an off Wall Street are based on sentiment. When you see breadth and depth of the new lows increasing, as the market is at new highs, when you see downside leadership increasing, it means two things. It shows that investors are becoming more selective. And number two, they're starting to sell stocks because they are going down. So we look for that negative leadership composite as an indication of a high or potential market tops.
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