Friday’s Breadth Was SO Negative…It Could Be Positive

Friday’s selloff was marked by extremely negative breadth. Around 97% of the volume was to the downside on the NYSE. In the past, days that have been SO negative have often led to bounces over the short-term. This can be seen in the study below.

The “% Profitable” is positive but not overwhelming. Risk/reward is pretty solidly bullish, though with the”Avg Trade” showing some strong numbers.