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It’s December 1999 Based on the NYSE Shares Touching New Lows

  • Fed finally poised to do something as economy cools: Ramsey
  • Market internals look weaker than at any time since March 2020

Amid all the celebration of a rousing year-end in stocks, Doug Ramsey has a sobering observation about a situation below the market’s surface. 

Last week, when the S&P 500 closed at a 52-week high, 334 companies trading on the New York Stock Exchange hit a 52-week low, more than double the amount that marked new one-year highs. That’s happened only three other times in history -- all of them in December 1999, according to Ramsey, who is chief investment officer for Leuthold Group.