Even after Friday's broad decline, we can see that over 80% of shares remain above their 50-day moving averages, per the top chart offered by Barchart. As the advance-decline line specific to NYSE common stocks from Decision Point shows (bottom chart), we remain in an uptrend after the Friday drop. Indeed, we had over 400 new 52-week highs among NYSE stocks on Wednesday and Thursday, the highest levels registered during the bull market. All of this suggests to me that we may have seen a momentum peak in stocks and could expect some continuation of Friday's pullback, but that it would not be surprising to see further price peaks following that correction.
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