Yesterday we printed 1,109 new 1-month lows when we get these 1-day spikes in new lows we typically get a couple of days of positive volatility in individual stocks as you can see in the chart below.
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The red line graphs 1-month new lows and the white line graphs the number of stocks that moved +4% or more on that particular day. Spikes in 1-month lows typically leads to spikes in stocks up 4% or more over the next few days. Mean reversion at its best.