Investors shouldn’t let a slight gain in the Nasdaq Composite COMP, +0.11% and virtually flat reading for S&P 500 SPX, +0.13% fool them into thinking the stock market is “mixed,” as market breadth is firmly negative on both major exchanges. The number of declining stocks is outnumbering gainers 2,359 to 679 on the NYSE and 2,921 to 949 on the Nasdaq, while volume in declining stocks represents 81.5% of total volume on the Big Board and 62.1% of total Nasdaq volume. Meanwhile, the S&P 500 is up less than 0.1% and the Nasdaq Composite is up 0.1%. The Dow Jones Industrial Average DJIA, -0.19% is down 127 points, or 0.4%, with 17 of 30 components losing ground.
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