A Wall Street investment chief warns new stock-market highs could be setting up a 'historic trap' for investors — one that also appeared just before the dot-com crash
Despite the extraordinary turbulence that investors have endured this year, not everyone will be breathing a huge sigh of relief if stocks break record highs in short order.
He found two historical instances when stocks rolled over hard after coming within 2% of their record high. But for Ramsey, these facts alone do not cancel out the other reasons why stock-market investors should proceed with caution. One technical indicator that is flashing a warning signal on his radar is breadth thrust. It's a gauge of the market's momentum that is expressed via a 10-day moving average of the ratio of rising stocks versus total stocks on an exchange.
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