Nasdaq breadth thrust triggered after recent selloff, Puru Saxena notes

Nasdaq breadth thrust triggered after recent selloff, Puru Saxena notes
Nasdaq breadth thrust signals potential rebound

The Nasdaq breadth thrust indicator was triggered last week, according to Puru Saxena. Historically, this signal has been followed by outsized returns over the next year.

After a period in which growth stocks experienced a significant selloff, Saxena suggests these stocks are likely to perform well in the coming year. The tweet includes a chart from Sentimentrader highlighting this trend.

Saxena has previously commented on technical developments in individual stocks, noting that EMAAR Properties formed a higher low and higher high as markets reacted to geopolitical events. He has also highlighted denials by Chinese and Iranian officials regarding key negotiations while raising the issue of insider trading. The latest breadth thrust signal follows these earlier observations.

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